Real estate predictions for 2019 suggest mortgage rates will continue to rise. House hunters who were lingering on the edge of a potential purchase will slowly back away and take retreat in their rental properties. While some buyers will certainly continue to forge ahead, those who are waiting for the right moment, may take the next 12 months to watch the market.
Whether you have a portfolio full of rental properties or you’ve only collected a house or two, 2019 may be the time to raise the rent. Higher rents obviously signal more income for investors. Consider your local market conditions and whether the rent hike is appropriate. While it may seem like an easy task, there are a few legal elements to consider before raising the rent on your tenants.