Tenant lease/rent help

[Jacob Goodall]

When you buy a fourplex with tenants do you restructure the current leases with them or are you locked into the leases they had prior to your ownership? Also, how would you inform them about rent going up to meet the market standard?

[Ruth Bayang]

Check your state laws. In my state, leases under prior ownership need to be honored.
2-3 months before their leases expire, send them a letter informing them of rent increase.