When rents are too low

[Karen M.]

Hi everybody,

I am still learning and have a question about how to handle a situation:

I looked at a listing for a duplex and the published rents seem low for the area. Assuming the property condition is good and that the rents are too low, how would a buyer handle this with the tenants in place who have been getting a good deal? Say that I want to buy and raise rents 20% to market level. It seems like a rough thing to do. How do these things work out with giving notice and how do you make them happen in a decent way? I see some listings described as "tenants want to stay". Curious for insight / experience. Thanks!!