First time rehab and property management - Savannah, Ga
I currently have a new opportunity to manage a rental property for a family member of mine. The property in question is 25 Runabout Ln 31410 Savannah, GA. Currently there is 1 tenant living in the house and they are behind 2 months rent. The rent has also been stagnant at 1400 a month for 9 years. My idea to the owner was to evict the tenant and raise the rent closer to 2000 a month as the house next door is a bit smaller and rents for that. The owner wants to be nice and give the tenant more time to pay but i don't think it is a good idea, especially given that the rent needs to be raised a good bit. The tenant also has a tendency to not tell the owner when things break which will only add to the cost down the road. If i evict the tenant the rehab costs would surely be around the 5000 mark. I'm curious as to what I should do in this situation, any thoughts would be greatly appreciated!