Hello, I am small-scale landlord, with 3 long-held properties that give me a steady income. I treat my tenants well, and vice versa; they average 5-8 years, and I value their decency hugely.
I am not overleveraged, and although I do have mortgages I don’t have the bandwidth to chase every efficiency. I also don’t want to chase top dollar, as I know my current tenants are excellent.
But costs have gone up, and I do need to raise the rent.
I am not wanting to land a bombshell, they are really nice people who I want to retain as tenants.
Any suggestions on how to go about this?
Phone up to pre-empt? Drop it firmly in writing, then phone?
I guess I am not looking for the ‘you shouldn’t have let it run so long’ feedback. But any learnings on ways to soften the blow, or sweeten the pill?