I have a one-bedroom condo in Milan whose current tenant pays about €5,167, reliably and on time, and takes good care of the property. Comparable asking rents appear to be close to €6,598, so there is a meaningful gap, but I do not want to lose a good tenant and then absorb vacancy, refurbishment and turnover costs simply to chase the advertised figure.
I am considering a modest adjustment rather than trying to reach the apparent market rent in one step. For landlords familiar with Italy, how would you assess a fair increase in this situation? In particular, what should I confirm about the lease terms and local notice rules before approaching the tenant, and how would you factor in payment history, maintenance, likely vacancy time and deposit handling? Concrete ways to open the conversation without damaging the relationship would be especially useful.
I am considering a modest adjustment rather than trying to reach the apparent market rent in one step. For landlords familiar with Italy, how would you assess a fair increase in this situation? In particular, what should I confirm about the lease terms and local notice rules before approaching the tenant, and how would you factor in payment history, maintenance, likely vacancy time and deposit handling? Concrete ways to open the conversation without damaging the relationship would be especially useful.