Jakarta condo rent review after 85 days: raise it or retain a reliable tenant?

L

liv.rain

Landlord
I have been tracking this for 85 days. Comparable asking rent for my Jakarta condo appears close to IDR 68,270,000, while the current tenant pays about IDR 60,290,000.

They pay reliably and look after the home, so I am reluctant to chase the full difference and then absorb vacancy, turnover and refurbishment costs. How would others frame a modest, fair adjustment while respecting the lease and local notice requirements? Market rent is one number; a good tenant is another.
 
A modest renewal increase would preserve room to negotiate, which raises the question of how much of the gap is worth pursuing. First check that the lease and local notice requirements allow the proposed timing, then show the tenant the closest genuine comparables rather than simply quoting IDR 68,270,000.

I would also weigh their payment record and how well they have maintained the condo against the likely vacancy and turnover costs. You can review the rent again later; losing a reliable tenant cannot be undone as easily.
 
Are those comparables genuinely like-for-like: furnished to the same standard, similar floor and condition, with the same parking and building charges? Asking rent can mislead if the inclusions differ.
 
Also, an asking price is not an agreed rent. If the IDR 68,270,000 homes have been sitting available, they may support keeping your current tenant rather than raising aggressively. What exactly does the 85-day period represent—tracking the market or listing exposure?
 
Put numbers beside each scenario: no increase, a modest increase with retention, and the full increase followed by possible vacancy and repairs. Include advertising, cleaning, administration and your own time. The highest rent can easily produce the weaker net result.
 
Before discussing an amount, read the current lease for its renewal, notice and deposit wording. Local requirements and the contract may affect both timing and procedure, so confirm those points in Indonesia rather than assuming practices from another country apply.
 
How has maintenance worked during the tenancy? Prompt reporting of small problems has value because it can prevent larger damage. That would make me more inclined to propose a restrained adjustment.
 
Keep the security deposit separate from the rent negotiation. If the tenancy continues, document any agreed rent change clearly; if it ends, handle deductions and return according to the lease and applicable local requirements, supported by condition records rather than using the deposit as leverage.
 
A useful trade could be a gentler increase in exchange for a longer renewal commitment. The tenant gets predictability, while the owner reduces the risk of an empty condo and another search.
 
The spreadsheet approach helps, but do not assign zero value to flexibility. A longer commitment can be good, yet it may also lock both sides into an arrangement if circumstances change. The renewal terms matter as much as the headline rent.
 
Bianca’s comparable question is central. I would make a short table showing condition, furnishings, included charges and how long each property has been advertised. If IDR 68,270,000 is only a portal ask with different inclusions, it is a weak basis for demanding the full gap.
 
Fairness also depends on how the review is presented. “The market says this, pay it” invites resistance. “You have been reliable, costs and comparable rents have moved, and I want to find a renewal that works for both of us” leaves room for an actual discussion.
 
Does the current IDR 60,290,000 include anything that the comparison figure excludes, such as parking, furnishings or building-related charges? That could shrink—or widen—the real difference.
 
Check whether the condo management has any move procedures or charges that would arise during turnover. Even where the tenant pays some items, coordinating access, condition inspections and contractor work can extend the period before a replacement moves in.
 
There seem to be two decisions, not one: the rent you consider sustainable and the terms that make retention worthwhile. Set those separately before contacting the tenant, otherwise every concession on price may accidentally come with concessions on timing or responsibilities too.
 
A fixed renewal period with the agreed rent unchanged throughout could be attractive to the tenant. Just avoid promising future treatment beyond that term; the next review should depend on the market and the agreement at that time.
 
The very precise figures make me wonder whether they came from a conversion or an automated estimate. If so, round-number local listings and directly comparable Jakarta condos may be more useful than treating IDR 68,270,000 as an exact market conclusion.
 
Has the tenant been asked informally whether they intend to stay? No need to lead with a number. Their plans and preferred renewal length are missing facts, and those answers could change the whole strategy.
 
One caveat to valuing the tenant’s care too highly: some refurbishment will eventually be needed regardless of who occupies the condo. Separate normal planned work from tenant-specific turnover costs, or the retention calculation becomes too generous.
 
Agreed with Sven. The comparison should include only costs caused or accelerated by a change of tenant. Routine maintenance belongs in both scenarios.
 
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