Rent Increase Newly Acquired Tenants
How does everyone handle rent increases with new home purchase, with existing tenants? Been there a lot of years and high points from previous owner.
If they move house will need probably $1,500 in general cleanup/rehab.
Rent is currently undervalued, at $650. Do you shoot for more than you want, because if you negotiate down its a deal?
On the open market you could probably get $900. Trying to decide between saying the rent is $775 and having no rehab costs, or $875 right out of the gate and potentially dealing with rehab costs and likely eviction process and no rent.