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Updated over 5 years ago,

User Stats

7
Posts
1
Votes
Ebenezer D Grant
  • Fall River
1
Votes |
7
Posts

New Landlord with tenants in place question!

Ebenezer D Grant
  • Fall River
Posted

Hi BP Family,

So I just closed on my first multi unit deal with two tenants in place, one of the tenants has been there for a long time and the previous owner never took security and last from them.  They are on a month to month with no previous lease.  On top of that, their current rent is a little below market.  I plan on raising the rents a little.  My question is, can I demand a security deposit from them to protect myself in case they damage the apt. when they move out or should I adjust the rent accordingly because of no security? 

Thanks in Advance

Eb

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