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Updated over 7 years ago,

User Stats

43
Posts
24
Votes
Russell Lavoie
  • Investor
  • New Bedford, MA
24
Votes |
43
Posts

Raising under market rents after purchasing multifamily

Russell Lavoie
  • Investor
  • New Bedford, MA
Posted

I'm about to put in an offer on a house in Fall River Massachusetts and there are two long term existing tenants at will that pay 300-400$  less than market rent. I was told that I can only legally raise the rent 100$ at a time. The tenants are two clean single women. I'm not sure if they could afford market rent. My questions are, what's the best way to go about raising the rents closer to market value without losing the tenants? Should I screen the tenants after purchase to see how much they can afford? 

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