The students I have living in my rental have decided they will renew their lease for an additional year. While they haven’t been trouble free, they have never been late with the rent, and haven’t torn the place up. So I’ve really got little to complain about.

I’ve also decided to raise the rent by about 5% to try to stay in line with the local rental market.

I’ve been told by several people that have or do own rental property that it’s very important to keep increasing the rent each year, within reason of course. This is primarily because the higher the rent, the higher the value of the house.

So while I don’t want to scare off the tenants that I have by going overboard on the rent increase, I do want to make sure that I continue to adjust for the increase in costs.

In addition to the increase in rent, I have decided to provide a lawn mower for the tenants to use. I’ve done this for a number of reasons.

1. I don’t expect college students to own a lawn mower
2. If I provide the mower, I may have less of a hassle with making sure the grass gets mowed.
3. It will psychologically justify the reason for the increase in rent. (it’s easier to swallow if you think you’re getting something for your extra money)

Right now, the tenants are responsible for keeping the grass maintained at a reasonable height, but considering the fact that there are only two girls living in the house right now, the chances of keeping it mowed are slim. I believe they are having someone mow it for them, which is fine, but I figure if I give them the tools to do the job, at least they can make the decision to do it themselves or hire it out.

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