My Rent Is Probably Too Low. But I Have Really Good Tenants.

When we came home to the Philippines for good, we decided to live in the city.

We actually have our own house in the next town, where my mom's home-our ancestral house-is also located. But living in the city was simply more practical for us.

So I rented out my house.

It became my first rental property without me really thinking of it that way at the beginning.

It's a two-bedroom house sitting on a 400-square-meter lot.

The rent?

₱5,000 a month. Yes, I know. 😂 The tenants pay their own utilities, but even then, ₱5,000 is quite cheap for the entire property.

And I haven't increased the rent since my current tenants moved in.

I Think They're My Fifth Tenants I've had several tenants over the years, and if I'm counting correctly, the current couple is probably my fifth.

Before them, I actually reached a point where I didn't want to rent the house out anymore.

Why?

I got tired of chasing rent.

I'm fine with being a landlord.

😂 I'm not fine with becoming a monthly collection agency.

After one particular tenant, I told our caretaker that I'd rather leave the house empty-even let it slowly deteriorate-than have someone living there whom I had to chase every month for payment.

Financially brilliant?

Probably not.

Peaceful?

Absolutely. 😂 Then a Couple Found the House In 2023, a couple looking for a place to rent somehow found the property and asked our caretaker about it.

Both of them are virtual assistants.

Before agreeing, I explained my previous experience very clearly.

I told them why I had stopped renting the house out and that I really didn't want to deal with late payments and constant follow-ups again.

They promised they would pay on time.

Fair enough.

I gave it another try.

And I'm glad I did.

They Pay Before I Even Have to Think About It Since 2023, they've been very consistent.

In fact, they usually pay a few days before the due date. No reminder.

No follow-up.

No awkward Hello, just checking on this month's rent... message.

The payment simply arrives.

And they've been doing that consistently for years.

Maybe that's one reason I haven't touched their ₱5,000 rent.

A good tenant makes being a landlord surprisingly uneventful.

And I like uneventful. 😂 Then I Spent ₱120,000 on the Roof This year, the house needed a major repair.

I had the entire roof replaced.

Total cost: around ₱120,000. That's when the landlord math became slightly painful.

At ₱5,000 a month, the property brings in ₱60,000 in gross rent per year.

So the new roof alone is equivalent to two years of rent. And that's before considering other repairs and expenses that come with owning a property.

Suddenly my very affordable ₱5,000 rent started looking a little too affordable. 😂 So lately, I've been thinking about increasing it.

Not dramatically.

Maybe another ₱1,000.

From ₱5,000 to ₱6,000.

But There's Something I'm Considering Yes, I could probably charge more.

But I also know what I have right now.

Reliable tenants.

They take care of their obligation.

They pay early.

They don't make me chase them.

And that has value too.

Would I earn more with another tenant at a higher rate?

Possibly.

Would that person pay on time every month?

Who knows?

That's the part that doesn't appear in a rental-income calculation.

There is a number attached to the property.

But there's also the convenience of having good people renting it.

So, Do I Increase the Rent?

I'm leaning toward yes.

After all, the rent hasn't changed since 2023, while the cost of maintaining the property certainly has.

That ₱120,000 roof made sure I remembered that. 😂 But if I do increase it, I want it to be reasonable.

I'm not interested in squeezing every possible peso out of the property.

I'd rather have a fair rent and tenants I don't have to worry about.

Because after several tenants, I've realized something about my first little rental property:

A higher rent is nice. A good tenant is also worth keeping. And if I can have both?

Even better. 😂