Increasing Rent For Staff Apartments

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13 years 5 months ago #6664 by Tabitha Reyna, CAM
Please tell me your thoughts on increasing rent for staff apts. Should you increase an employee's rent at he end of their lease term when they were given a discount at the time of hire?
13 years 5 months ago #6664 by Tabitha Reyna, CAM
Gerry Hunt
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13 years 5 months ago #6668 by Gerry Hunt
Replied by Gerry Hunt on topic Re:Increasing Rent For Staff Apartments
Tabatha,
If the employee lived at another community, their rent would probably be increased at the end of their lease. So yes, it should be increased.

If the company is not giving pay increases or giving just a minimal 2-3% increase and my rent is going up 6-8%, one may feel that they are working for less money!

What ever the company decides to do, it needs to be consistent across the board! And in end, the employee will have to decide if there is still an advantage to living where they work.(The discount, less money spent on gas and car wear and tear for example)
13 years 5 months ago #6668 by Gerry Hunt
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13 years 5 months ago #6679 by Stephanie Waugh
We had a situation at our community a few years back. The Owner decided that an employee has a choice to either take a rental increase of $15 - $30 per month and receivea raise at their performance review OR they could keep their rent the same, but they would forfeit their possibilities of getting a raise for that year. This flexibility has actually proven to make the employees happier. Just a thought! B)
13 years 5 months ago #6679 by Stephanie Waugh