Rent Increase Newly Acquired Tenants

[James Edwards]

How does everyone handle rent increases with new home purchase, with existing tenants? Been there a lot of years and high points from previous owner. 

If they move house will need probably $1,500 in general cleanup/rehab.

Rent is currently undervalued, at $650. Do you shoot for more than you want, because if you negotiate down its a deal?

On the open market you could probably get $900. Trying to decide between saying the rent is $775 and having no rehab costs, or $875 right out of the gate and potentially dealing with rehab costs and likely eviction process and no rent.