I just purchased 12 more units and don't know how to raise rent..

[Nate Julian]

Currently I own 16 units in Utah. 12 of those 16 we just inherited and these new units have came with their fair share of "honey do's". We knew that going in, and they are going to be awesome once we are through the stabilzation period.

We are at the point where we need to raise rent on the tenants living there. All of these tenants have leases that were inherited from the previous owners, or property manager depending on when they signed a lease.

Some of these leases are month-to-month, some of these leases are extending out further through mid to end of 2017.

My question is do I sign new leases and lock the tenants in for another year, and raise rents shortly thereafter, or do I just sign new leases with all of the tenants at the new raised rate?

Not sure what the best approach, or if anybody has any advice???