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Updated about 7 years ago on . Most recent reply

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916
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296
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Shanequa J.
  • Realtor
  • Houston, TX
296
Votes |
916
Posts

Inherited tenants

Shanequa J.
  • Realtor
  • Houston, TX
Posted

I have 2 rentals under contract with paying tenants. They are month to month with the current owner. The rent is $150-200 under market, but it needs updating and small repairs. Should I give a vacate notice to 1 tenant, fix it up, and increase rent with a new renterm Then do the same with the second tenant. Or should I continue to let them stay there at the current price without doing any updating/repairs and wait until they decide to move? 

The second option sure would be the easiest.

Most Popular Reply

User Stats

423
Posts
222
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Kevin Manz
  • HVAC Tech
  • Fort Wayne, IN
222
Votes |
423
Posts
Kevin Manz
  • HVAC Tech
  • Fort Wayne, IN
Replied

I would up the rent to Market rent and if they stay Great, if not then you can remodel

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