The people I have asked offline are split, so I would appreciate a Riyadh-specific view.
The current rent on a unit in my small multifamily is about SAR 11,520, while comparable asking rent appears to be around SAR 13,470. The tenant has paid reliably and takes good care of the home. After 118 days of considering the issue, I am leaning toward a modest increase rather than trying to reach the full asking figure, because vacancy, refurbishment and tenant turnover could quickly absorb the difference.
How would you calculate a fair adjustment once likely vacancy time, maintenance history and turnover costs are included? I would also welcome practical guidance on local notice requirements and deposit handling so the review stays within Saudi rules and preserves a good landlord-tenant relationship.
The current rent on a unit in my small multifamily is about SAR 11,520, while comparable asking rent appears to be around SAR 13,470. The tenant has paid reliably and takes good care of the home. After 118 days of considering the issue, I am leaning toward a modest increase rather than trying to reach the full asking figure, because vacancy, refurbishment and tenant turnover could quickly absorb the difference.
How would you calculate a fair adjustment once likely vacancy time, maintenance history and turnover costs are included? I would also welcome practical guidance on local notice requirements and deposit handling so the review stays within Saudi rules and preserves a good landlord-tenant relationship.