Updated over 9 years ago on . Most recent reply
Tenant lease/rent help
When you buy a fourplex with tenants do you restructure the current leases with them or are you locked into the leases they had prior to your ownership? Also, how would you inform them about rent going up to meet the market standard?
Most Popular Reply
Check your state laws. In my state, leases under prior ownership need to be honored.
2-3 months before their leases expire, send them a letter informing them of rent increase.