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oldhvymecI kept the rents the same for 10 years. Same renters for the last 15 years.
My income is the same. I hate to pass it on to my renters..
My siblings and I inherited a choice San Francisco property in Chinatown North Beach area. My parents also didn’t raise rents. When we tried to sell the building the value went from $2.2m to the sale price of $1.1m due to the low rents (in rent control) and the dilapidated condition of the building. The rents weren’t even enough to cover property taxes. Tenants never complained because their rents were so low. I’m not bent from this reduction of price because it was my parents gift to both the tenants and us.
Bottom line- although you don’t raise rents you are actually subsidizing your tenant’s cost of living (inflation) increases in addition to your own.