All Forum Posts by: Max Pryor

Hi all, I own a two family that has identical units. Both floors were renovated at the same time. The first floor has full basement access and second floor has full attic access. My question is what should the difference in rent be for the first floor vs the second? Being on the first floor plus having basement rights should be worth more than second floor with the attic right? Thank you in advance. 

Thanks @Mike D'Arrigo & @Bill B. for your replies. Different angles really help make a single decision. It’s great having experienced and knowledgeable investors to help me through. Thank you both 

Hello all, I just closed on my first multi family property. The multi came with tenants of 10+ years. The previous owner only increased rent by $25 once in those 10+ years. Right now the tenants pay $750/ month plus their own utilities... minus water which the owner pays (even though the units have separate water meters). I would like to have them start paying for their own water as well as raise the rent. Comps in the area are going for $1000- $1500/ month. They are good tenants and I don't want to screw them with a huge increase but also for what I paid, I need more. How do I go about relaying this to them in a way in which they can understand.. also how much is too much to raise the rent?