Rent increase versus tenant retention for a Bogotá duplex

[nico_rates]

Matching the apparent market rent would maximise the headline income, while retaining a reliable tenant may produce the better net result. The Bogotá duplex currently brings in about COP 24,620,000, compared with asking rents near COP 30,980,000, but the tenant pays consistently and looks after the property.

I want a repeatable review process rather than an improvised negotiation. My thought is to verify the contract and current local requirements first, then compare genuinely similar rents and estimate vacancy, necessary refurbishment, reletting and deposit handling. If the lawful increase is modest or turnover would absorb the gain, retention should carry more weight; if a compliant adjustment remains worthwhile after those costs, I could propose it with a clear calculation. Is that a sensible decision rule?

 

[direct_sparrow]

I wouldn’t treat COP 30,980,000 as the target until you confirm those are genuinely comparable duplexes and achieved rents rather than optimistic asking prices. Also compare the rent on the same basis—size, condition, location, included costs and rental period.

For a consistent process, first verify the contract and current Colombian rules on timing, permitted increases and notice. Then estimate the full turnover cost, including vacancy and necessary work, and give reliable payment and good care an explicit value. That may support a lawful increase below the apparent market gap. Explain the calculation clearly and invite a discussion rather than presenting it as an ultimatum.