rent increase

[t. hart]

Hi Chrissy, Im glad to see that you are doing this web site. I have been reading your articles on this site as well as in C.M. magazine. You have good insight about the industry. I have a question. When we increase the rents next month by $20.00 should we give the residents an excuse or just tell them nothing. Rents have not been raised in over 2 years and we (park owners) pay the water, sewer and garbage bill. Please help me out on this one. Thank you

[Chrissy]

Generally, a reason for rent increase is given in the notification letter you use to inform the residents of the amount and the effective date. Be careful what you use for a reason. Firsdt, be truthful, and secondly, be sure you use the reason in the letter that you casn "defend" when a resident asks you more questions about the specifics of the rent increase. One of the sections of the Accredited Community
Manager (ACM) course that I teach specifically addresses the reason for rent increases, as does one of the pieces of information included in my Financial Solutions package. This package may be ordered online at my website (www.chrissy-jackson.com) and you can also access the dates of the ACM classes currently scheduled. Plan to come if you can - i would love to see you! Thanks for reading my columns.