Re: Raising Rents Immediately after Closing Escrow

[Anthony A.]

Hi Everyone,

I have a quick question about raising rents immediately after closing escrow. I am in escrow on a duplex (both 3/2 and 1300ft) in Bellflower, CA. Rents for both units are $1,600 and $1,700 respectively. Both tenants have been there 5+ years. Here is my question. The market is $2,100-2,250 in thar area. The price I am paying is like the rents have already been raised. What would be the best way to approach this when I takeover? I am SURE the tenants are aware they are taking advantage at those prices.

--Anthony