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Updated almost 5 years ago,

User Stats

7
Posts
2
Votes
Adam Hoak
  • Rental Property Investor
  • Tulsa, OK
2
Votes |
7
Posts

How should I raise rents on an old tenant?

Adam Hoak
  • Rental Property Investor
  • Tulsa, OK
Posted

I have a duplex that I would like to buy. It currently has a vacant side and a rented side. The rented side is for $575 and below market average which is $750. She is elderly (mid 70s) and has lived there for 13 years with no rent raises. If her rent was $675 I could make the numbers work much better for a house hack. It would cover the mortgage and insurance 100% but nothing more. How should I raise her rent? Also, it feels immoral to raise rents with the COVID-19 situation at hand. Any thoughts, please?

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