Raising Rent on Pre-existing Tenants

[James Lanier]

Hello everyone,

I am closing on a three family unit next week. The first floor is 3 bedrooms with washer and dryer in the unit (1,000 rent). The second floor is 3 bedrooms slightly smaller without washer and dryer (850 rent) . I plan on occupying the third floor. I did research for the 2 units and they are extremely below market value (3 bedroom in my area median is 1,350). Now while I don't plan on charging 1,350. I do plan on charging 1,150 for the first unit and 950 for the second unit. I am looking for suggestion on how to make this change after closing on the property.

Thanks,

James