Increasing Rent for Acquired Tenants
We’re seriously looking into our first rental property (hoping to put in an offer next week once we have financing together). It’s a duplex with rents under market value.
How do we go about raising rents to market? Do we have to wait until the end of the lease? Can we entice the tenant by making improvements? Any other suggestions?
They seem like good tenants so I’d like to avoid them moving out especially with the slower winter months coming.