Should You Increase the Rent at Lease Renewal Time?

When lease renewal comes around, many landlords ask the same question: “Should I raise the rent?” The honest answer is: it depends.

Factors to Consider Before Raising Rent

1. Have your costs increased?
   Rising property taxes, insurance, utilities, or maintenance costs may justify an increase to cover your expenses.
   
   

2. What are the current rental comparables?
   Check the market—are similar homes in your area renting for more? Staying competitive ensures your property doesn’t fall behind.
   
   

3. Tenant quality matters.
   If you have reliable tenants who pay on time and take care of the property, sometimes keeping rent steady (or raising it modestly) saves you more in the long run than risking turnover.
   
   

4. The cost of vacancy.
   A vacant unit can mean weeks or even months with no income—plus extra costs for repairs, cleaning, and updates. Raising rent too high could push tenants out, resulting in these additional expenses.

Ask yourself: What is best for my property, my finances, and my tenant relationships? A thoughtful, strategic approach ensures steady cash flow and happy tenants—both of which are key to long-term success in real estate.

Often, it’s better to raise the rent gradually each year rather than make a large increase after several years have passed. This helps you keep up with the market without shocking tenants or creating unnecessary turnover.

Looking for expert guidance on rent increases and tenant retention? Contact Cassie Mor at 702-501-1085 from The Mor Group today, and let’s maximize your property’s potential.

If you are looking for rentals in Las Vegas visit RentMor.com