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Updated over 13 years ago, 06/28/2011

User Stats

446
Posts
171
Votes
Glenn Espinosa
  • Rehabber
  • Alexandria, VA
171
Votes |
446
Posts

VA owner occupy, kicking out a tenant

Glenn Espinosa
  • Rehabber
  • Alexandria, VA
Posted

I bought a quadruplex recently under a VA loan and I need to move into one of the units. Problem is, all of the tenants are very good as stated by the previous owner and from what I see in the records. They are all month to month as well as pay month to month. One tenant has lived in the building for 23 years. One unit is occupied by an elderly woman who has been in the unit for 8 years, her son and niece live in another unit and have been there for 2 years. The last unit is occupied by a white collared professional who was recently divorced and has lived in the unit for 2 years..

The units are all paying $620 and are due for a rent increase (very good rent as according to rent-o-meter) A $25 increase would put the rents at just below average on rent-o-meter.

I am considering writing a letter in which I introduce myself, ask for a volunteer to move out, and notify everyone of the $25 rent increase. I am planning to use a tactic that I read about here in which I offer a $50 giftcard to those who choose to sign new leases with me. Problem is, I need someone to move out, should I offer an incentive for moving out, or is the increased rents incentive enough?

Anybody have experience with owner occupying a rental and having to pick between good tenants? If so how'd it go?

Should I take this opportunity to ask for a relatively larger rent increase seeing as I actually need a tenant to move out (hoping the others stay put at the same time)?

Thanks,

Glenn

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