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Updated about 2 years ago on . Most recent reply
Raising Rent & Making tenants pay utilities
Hi,
looking for some help/advice on an opportunity I have come across. Multi-unit, 2bed/2bath and 1 bed/1bath. Current tenants are on a month/month lease, and both pay less than half of market average for rent. Currently pay 750 Current owners pays for garbage and water, rest of utilities go to tenant.
1.) can I assume I can raise rent by more than half of current price if I were to purchase?
2.) is it possible to transfer the responsibility of water and garbage to the tenants?
Most Popular Reply
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@Noah Masa
I will add one thing here which is I do not purchase based on potential income. What I mean by that is my numbers are based on current rents
If someone says you can get $1,000 month so that’s why I am selling it for Y but current rent is $750. I base my numbers off $750 and if they want more they can go put a tenant in there for a $1,000.
Not going to reward a seller for my work.
- Chris Seveney
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