General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated about 1 year ago,
New Home with Old Tenant - New Lease?
Hi everyone,
I just bought a new home with an ADU (2beds and 2 bath with big separated gated driveway for 2-3 cars parking) in Garden Grove, CA. The ADU has a tenant living in it. He pays rent on-time every month. His rent is currently $2100. The previous do not have any current lease agreement or refuse to give me one (I found this weird). I ran the rental analysis in the area, and the rental range for comparable unit is $2500-$2800 without the big gated driveway. I am meeting him this Sunday. What steps should I take? I plan to use Avail for the lease and plan to increase the rent to $2450. Your inputs would be much appreciate it.
Newbie Real-estate Investor
Tu