How does Home365 handle renewing leases?

The Home365 default rental increase is 2.5% for an annual renewal and a 10% increase if they opt to renew month to month. As the owner, you’ll be notified 90 days prior to the lease ending.  You’ll have the chance at this time to adjust the increase to someone other than our defaults (You can also let us know anytime during the lease term).  You can make this change right in your owner portal.  We feel that increasing rent is VERY important to the long-term economics of investing.  Not only does the rent increase get the owner more money in the initial year, but sets the owner up to get an additional 2-5% increase the following year.  For the tenant who stays in a unit for 5+ years, this is crucial towards long-term cash flow.  It’s virtually impossible to get a tenant to accept a major increase in rent, but we have found most tenants have come to expect a small increase at the end of their lease.