Updated over 4 years ago on . Most recent reply
Inherited Tenant Question
I know this has come up a lot lately but I’m going to ask again.
I’m making an offer on a decent building with 3 units. Two tenants have been there 14 and 17 years respectively and are both under market rent by $300 apiece. The third tenant has only been there 9 months and is under market rent $125.
The landlord is paying all utilities for these tenants.
To make the numbers work I will have to raise the rents by $200 on the long term tenants and $75 on the new one. With their heat and electricity included I feel this is more than fair.
Does this seem reasonable? Or do I seem like I am being greedy?