Legality of Raising Rent Across Multiple Units
I purchased a 14 unit apartment complex back in December. With it I inherited 13 tenants. 11 of the units are 2 bed 1 bath, same square floor plan and amenities. The tenants I inherited pay any where from $460 to $620 per month ($460, $475, $500, $515, $545...) . I told my property manager that we need to raise the rent on the ones below $500 up to $500, the ones below $550 up to $550, and the ones below $600 up to $600. I wanted to do it straight away on tenants that were month to month and upon renewal for leased tenants. My property manager responded back with, "we have to raise the rent equally on everyone". I don't know if they meant percentage or straight dollar amount, but either way, that didn't feel right. If some is paying market rent, it doesn't seem like I should be forced to raise their rent just to get people below market up to what the market dictates. They said it had to do with Fair Housing Laws. Is anyone aware of any law requiring this? I'm fairly new to this and haven't be through a price increase yet. This will be my first one. Does anyone have citations of any laws proving or disproving this statement. Its in Cincinnati OH if that helps.