Find Your Dream Home with Lake Havasu Property Managementnt

Before You Raise the Rent…

When a tenant moves out, landlords often think about raising the rent, particularly due to increasing costs such as taxes, insurance, and maintenance. However, in today’s market, this decision might end up costing you more than you would gain. Currently, Lake Havasu has over 300 active rental listings, resulting in a highly competitive and saturated environment. Additionally, the rental market is softening month by month.

Let’s do the math: a $100 monthly rent increase brings in an additional $1,200 per year. However, if that increase leads to your property remaining vacant for 90 days, you lose over $4,500 in rent, plus ongoing expenses such as mortgage, taxes, insurance, and upkeep. The real loss isn’t just collecting slightly less rent; it’s collecting no rent at all.

Tenants are already stretched thin by rising costs, and wage growth hasn’t kept pace. As your property manager, I want to help you achieve your income goals, but the economic conditions must align. In this market, competitive pricing is essential. I have seen several of our owners fall into this trap, and it has cost them a lot of money.

Our recommendation is to keep the rent steady so we can quickly occupy your property and start your income stream right away. We might also consider month-to-month tenancy or shorter leases so that if market conditions improve, we can eventually raise the rent.