When answering this question, emphasize your approach to balancing tenant satisfaction with the financial goals of the property owner. Discuss your process for reviewing current market rates, evaluating tenant history, and communicating changes effectively. Provide examples if possible.
Example Answer:
"I handle lease renewals and rent increases by first reviewing the current market rates to ensure our pricing is competitive yet fair. I also consider the tenant's history, including their payment timeliness and any issues during their tenancy. Once I have all the necessary information, I communicate with the tenant well in advance of the lease expiration, explaining any rent adjustments and the reasons behind them. I aim to maintain a positive relationship by being transparent and open to discussions, which helps in retaining good tenants while also meeting the financial objectives of the property owner."
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