How to Raise rent on an handshake lease agreement

[Anthony Geren]

Hey BP,

I have a family friend who has a rental property that is leased to the tenant on a verbal/handshake agreement. He asked me how he would go about raising the rent, and possibly converting the lease to a paper contract agreement.

So my question to you is the same. How does an investor go about raising the rent and get a paper contract on board with a tenant that is under a verbal contract?

Thanks again BP

Cheers,

Anthony