Increase rents to market price.

[Brandon Y.]

Located in Boston area, I have two units that are currently under priced and I would like to bring the rent to the market price. The tenants have live for more than 2 years.

What is the best approach to the tenants for the increase rent? Is there a cap on how much a landlord can increase the rent at a time. Would 30 days be enough time for notice or does it depends on the length of stay for the tenants.

Thank you for your time.

[Bill B.]

You really want to either hire a PM or google “landlord tenant laws <my state> <my city>”

Every single area has its own rules about notices, rent increases, security deposit max size and fi it has to be in a superset account. At least you put your location so hopefully a local expert will weigh in. 

Here’s the results for Massachusetts…

https://www.mass.gov/guides/th...