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Updated about 7 years ago on . Most recent reply

User Stats

48
Posts
7
Votes
Sean Larson
  • Real Estate Agent
  • Grand Rapids, MI
7
Votes |
48
Posts

Should I ask for rent increase in purchase contract?

Sean Larson
  • Real Estate Agent
  • Grand Rapids, MI
Posted

I'm wondering if you all could give me some pro's and cons:

I'm wondering if it's a good idea to asking for a rent increase as part of my purchase contract with a tenant who is month to month and the seller has a management company taking care of property.

My thinking is, if I were the seller and they asked this of me instead of asking for a lower purchase price I wouldn't mind. It also might be a great way to know if that tenant will take the increase and at the same time if they don't I'll have a vacant unit ready at close that needs rehab. Win win? Turnoff to seller?

Thanks!

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