Regarding Raising Rents On Existing Tenants When Buying

[Zachary Moore]

I am wondering about people's experiences raising rents on existing tenants when purchasing a new rental property. Would anyone be willing to share their experiences with this process? How did you go about informing the existing tenant? What was their reaction? Did you have hang ups about raising the rent on someone who had living in the property you were purchasing for a long time? Did it seem like you were disrupting a huge part of their life? Maybe undermining it in some way? Thanks BiggerPockets community!

Zach

[Mike McCarthy]

Be professional, be friendly, and also let them know what you have planned for the property.  You don't need to be their friend, but let them know that you're looking out for the property moving forward.