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Updated over 5 years ago on . Most recent reply
Renovation With Tenants (Question)
When you buy an under market value apartment complex with tenants currently occupying, how do you go about renovations with them living there?
And I know this depends on region - you’ll just notify the tenant the rent is going up when it comes time for them to renew their lease?
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Greg Dickerson
#2 Land & New Construction Contributor
#2 Land & New Construction Contributor
- Developer
- Charlottesville, VA
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Greg Dickerson#2 Land & New Construction Contributor
#2 Land & New Construction Contributor
- Developer
- Charlottesville, VA
@Mike Dusenka I ask them if they are ok with the renovation and if they would be willing to enter into a new lease for an upgraded unit now. Depending on what you’re doing most of them will be OK with it.