House rental raising monthly rent
Not sure if this is the right place ask.
I've been renting a semi-detached townhouse to a tenant for a couple years.
For the entire house, I'm only charging $1,600/month, all the houses near the area are charging at least $2,000+ minimum.
So I'm just wondering are there any ways to increase the rent to $2,000/month? Or do I have to stick to the government guideline and only allowed to increase 1.2%?
Thanks in advance.
I've been renting a semi-detached townhouse to a tenant for a couple years.
For the entire house, I'm only charging $1,600/month, all the houses near the area are charging at least $2,000+ minimum.
So I'm just wondering are there any ways to increase the rent to $2,000/month? Or do I have to stick to the government guideline and only allowed to increase 1.2%?
Thanks in advance.