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Updated almost 5 years ago on . Most recent reply
Increasing rents during covid!!?!!
What’s up BP! I need your advise. I’m buying an investment property that has tenants in each unit. However after reviewing the tenants current leases and the current rent market value for the area I found the tenants are paying at $200 below normal rent in the area. What is the best way to increase the rents. And is there anything I should know or do before making the change?
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Bjorn Ahlblad
#5 Multi-Family and Apartment Investing Contributor
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#5 Multi-Family and Apartment Investing Contributor
- Investor
- Shelton, WA
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Bjorn Ahlblad
#5 Multi-Family and Apartment Investing Contributor
Pro Member
#5 Multi-Family and Apartment Investing Contributor
- Investor
- Shelton, WA
@Gerald Turner people who are paying their rent won't get an increase from me until things become more normal; whatever that even means anymore. My tenants are all MTM so I am free to raise rents at any time but not doing that for now.