Purchasing my first duplex with a tenant

[Rosaria Pipitone]

Hi everyone!

I’m purchasing my first duplex and inheriting what appears to seem like reliable tenants. This couple has lived on the property for 8 years. They rent a 2/2 with Brand new kitchen and bath for $800 in Audubon, NJ. Apartment can be rented for 1k. Should I raise the rent? If so, is $900 too much?

[Kevin Santos]

Hi Rosaria, 

I'm in Audubon too :). A 2 bed around here now averages around $1,000+ from what I can see. If the tenants are reliable, it's up to you. Give them forewarning but a 2 bedroom for $800 is low for the area, especially if it's upgraded. 

Kev