How do you raise rents on Tennant's when you first purchase

Question

I'm planning on buying a Triplex that I know is under the market value for rents specificly but I am taking away a carport from the Tennant downstairs paying 1000$ which I could probably get upwards of 1250 -1300 for if they left but I am just starting out this is my first purchase anyone have any ideas or thoughts?

Collin Kelly · Answer

Thanks so much

Grant Rothenburger · Answer

@Collin Kelly like Tim said, depends on the lease

Tom Gimer · Answer

Read the lease. If they are in the middle of the term, you are stuck. If they are month-to-month, send them written notice of new rent and start date in accordance with local law.

Need help? Contact a local landlord tenant lawyer.

How do you raise rents on Tennant's when you first purchase

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