Raising Rents without Losing Tenants

[Shawn Dandridge]

Hi,

I am interested in purchasing about 12 properties from an older lady whose rents are WAAAYYY below market rate. The trick is that some of these tenants have been renting from her for 15+ years. Example, one rent is 225.00 for 1/2 of a duplex, going rate in the area is around 500.00. How can I raise rents to somewhere around that range without running off a tenant?