Hook

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So my tenant pays $150 below market rent and that's completely intentional. And I'm not raising it. And here's why. So a lot of landlords think they have to raise rent every year. And you don't. If I have a tenant that's been with me for four years, pays on time every month, takes care of the house, doesn't cause problems, that is worth a lot of money. And sure, I could raise her rent by $150. But what if she decides to move out? Then I've got to pay for vacancy, I've got to pay for the cleaning, I've got to pay for touch-ups. There's a lot that goes on when somebody moves out of a property. And here's the thing, there's no guarantee that the next tenant I get is going to be as good as the tenant that I already had. And sometimes chasing that extra $150 a month, that's something that's going to end up costing you thousands. A great tenant isn't expensive, they are an asset. So I ask what is the market rent? I ask myself, what is this tenant worth to my business? My phone got hot and went off. So wrapping it up, sometimes the most profitable decision is just keeping a happy tenant.