Taking Over 12 Unit with Under Market Rent and Pets

[Melissa N.]

Hello all, 

We are purchasing a 12 unit property. Each unit is about $100 under market. Also, the seller allows pets but charges no fees at all. This has turned the place into a "pet motel" (some having 4 pets in a 2 bed apartment). 

How would you approach raising rents and implementing a pet fee/pet rent? In our market almost everyone is charging a $150 non-refundable deposit and $25 pet fee. We would like to do that same but just wondering what everyone's strategy would be to tackle this.