Increasing rent on a turnkey property
Can I and should I increase rent on a turnkey fourplex that is under rented at the moment?
All four units are rented out and going for about 500 dollars of the market. I just want to increase by 120 dollars. Once I close I plan on making renovations right away.
I don’t want to lose any tenets as I take over but I think with me wanting to start renovating right away I think it’s fair.
What is your experience with something like this?