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Updated about 13 years ago on . Most recent reply

Daniel H.'s profile image
Daniel H.'s profile image
Daniel H.
  • from Worcester, Massachusetts
  • Member since Sep 4, 2012

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Daniel H.'s profile image
Daniel H.'s profile image
Daniel H.
  • from Worcester, Massachusetts
  • Member since Sep 4, 2012
Daniel H.
  • Worcester, MA
6
Votes |
145
Posts
Buying & Selling Real Estate

Raising Rent on Purchase

Daniel H.
  • Worcester, MA
Posted

I am purchasing a new 3-family building. I would like to raise rents immediately on one of the tenants. Can I have this done by the existing owner before I take over or will I serve a notice of rent increase once I take ownership?

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Kelly N.'s profile image
Kelly N.'s profile image
Kelly N.
  • Investor
  • from SE, Michigan
  • Member since Feb 24, 2013

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Kelly N.'s profile image
Kelly N.'s profile image
Kelly N.
  • Investor
  • from SE, Michigan
  • Member since Feb 24, 2013
Kelly N.
  • Investor
  • SE, MI
461
Votes |
1,077
Posts
Kelly N.
  • Investor
  • SE, MI
Replied

Hi Daniel,
You could ask the seller to raise the rent, but I'd just give 30 days notice of the new rent once I took possession like Andrea mentioned in the 'Hi, I am your new landlord' letter.
Kelly

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