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Updated over 3 years ago on . Most recent reply

Sarah Lindberg's profile image
Sarah Lindberg's profile image
Sarah Lindberg
  • New to Real Estate
  • from Parsippany, NJ
  • Member since Apr 29, 2021
  • Posts 6
  • Votes 10
  • Experience 4 Yrs
  • Investments 1
Connect

User Stats

6
Posts
10
Votes
Sarah Lindberg's profile image
Sarah Lindberg's profile image
Sarah Lindberg
  • New to Real Estate
  • from Parsippany, NJ
  • Member since Apr 29, 2021
  • Posts 6
  • Votes 10
  • Experience 4 Yrs
  • Investments 1
Connect
Sarah Lindberg
  • New to Real Estate
  • Parsippany, NJ
10
Votes |
6
Posts
General Landlording & Rental Properties

Inheriting Below Market Leases

Sarah Lindberg
  • New to Real Estate
  • Parsippany, NJ
Posted

I am currently under contract with a duplex. There are two tenants, one of which is the seller's brother. Both rents are below market. The brother's lease goes until June 2022 and the other tenant is month to month (so I'm not as concerned about that one). Do I need to honor the current year lease that the brother has? Is there any way I would be able to up the rent even a little bit before the lease is up?

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