General Real Estate Investing

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Patrick Knapp
  • Contractor
  • Wake Forest, NC
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Raising rents on long term renters

Patrick Knapp
  • Contractor
  • Wake Forest, NC
Posted Jan 21 2022, 08:32

Hey guys I am gonna be getting 4 properties that are grossly under market rent and want to get you option on how you would raise rents.

Units are renting for 600-700-750 and 900

$900 in on a lease so I can’t do anything about that one but others are month to month.

The three properties are long term renters that pay on time. But rents should be 1000-1200 for each unit according to what it should be.

I’m thinking of letting them all know once we have the properties that they get 30days notice that rents will increase to $1000.

My concern is how would you do it without coming off like a jerk? They know they have been getting a good deal, I would like to keep them as renters but rents are way to low.

What’s your thoughts?

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