Philadelphia, PA · Member since 2016 · 8 posts · 0 votes
I am interested in buying a small 6 unit commercial property. All the units are very small and they are always leased. Do I have to inherit the leases and abide by their terms? Some go into 10 years.
I don't think the rent is reasonable, it's on the low end and I would be interested in increasing it by 3% at the most for the year that I assume the ownership. One of the tenants is locked in for 7 years without any rent increase. Not sure how the agreement could have been signed like this.