Tip 5: Research Market Rents Carefully and Beat the Competition... Barely

Moving is expensive, and tenants would have to start all over with a new rental agreement and new landlord. If your rent is less than local market rents, try raising it to just under the local average, so that it doesn't make fiscal sense for your tenant to move. For example, if you currently charge $875, and area rents for comparable rental homes is $1,000, raise the rent to $975, and when your tenants balk, tell them that they're welcome to check out the house across the street available for $1,000, or the house a few blocks over available for $1,250, or the one up the street that's also $975, and explain that their rent is still below area market rents.