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Brandon Sturgill
  • Real Estate Broker
  • Columbus, OH
1,772
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Acquiring Building with Tenants- Raising Rent $100/mo.

Brandon Sturgill
  • Real Estate Broker
  • Columbus, OH
Posted

So I am closing on a small multifamily Friday and one of the tenants has somehow managed to pay $100 under market rent for some time...do I need to give notice to raise rent...

I will definitely contact him after closing to extend the option of staying at the increased rent. Building is on Ohio....

  • Brandon Sturgill
  • 937-979-7000
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Realize Multifamily Group
1.0 star
1 Review

Most Popular Reply

Account Closed
  • Real Estate Agent
  • West Palm Beach, FL
9
Votes |
11
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Account Closed
  • Real Estate Agent
  • West Palm Beach, FL
Replied

you need to contact a lawyer or the the very least review the lease agreements. 

You cannot arbitrarily raise rent in the middle of a lease.

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