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Updated almost 3 years ago,
First Multifamily Investment - 9 Unit
Hello,
I am currently under contract on a 9 unit apartment building in Green Lake, WI that includes a single family home that is a rental in addition to an 8 unit apartment complex.
The tenant in the single family home currently does snow removal and lawn care, but from speaking with the seller and doing market research, the rent is currently under market for the house relative to comparable properties. I'm trying to decide if I should keep the current arrangement in place with the snow removal and landscaping and have the tenant pay below market rent or if I should have these services taken care of by a professional company and bring rent up to market.
I'm curious if other investors have come across this situation before and how you made a decision on the best way to proceed. Thanks for any inputs and comments.
Thanks,
Matthias