All Forum Posts by: Nicky Venditti

@Timothy Smith thanks so much for this insight and thoughtful suggestions! It’s great hearing from a fellow Buffalonian.

I wouldn’t have thought to inquire about potential assistance programs and regulations that could come from it when it comes to increasing rent. I was already planning to meet with them and anticipated some maintenance/ repairs to come up. I totally agree- this softens the blow! Also never thought of an incremental increase but I think this could be conducive for getting closer to market value.

Thanks again!

I'm in contract for my first rental property in the Buffalo area and will be inheriting a tenant who is currently paying way under market value. Property is a side by side duplex (each unit is 900sq ft, 2bdrm/ 1ba) One unit is vacant and I plan to use it as a LTR, while the other unit is occupied by a tenant who is paying way below market value at $645/month and I would ideally be getting around $1200/month. I was told by my realtor that the tenant should not be surprised by a significant rent increase given the comps in the area are roughly double what he is currently paying. Per New York State guidelines, I will need to give a 90 day notice for rent increase, but beyond this I'm seeking any advice on best practice for broaching the topic with the tenant as a landlord. Thank you in advance for any insight! 

@James Wenzel what is the meet up app you refer to? This is a great response to a great thread!