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Updated 9 months ago,
Current rent is $1700 below market each month, what to do?
Hi, I am new to bigger pockets. I caught the bug two weeks ago and have watched about 50 videos lol. I have a rental condo worth about 550 payment is 1000 per month HOA dues are 150 per month currently rented at 2000 per month just did comps through the bigger pockets tools and it is showing 3700 as a good comp for rent. 3 bed 2 bath with 2 car garage. The tenant is always on time with rent, but there are now four adults living in the condo with a kid on the way. I don't have a lawyer or know what the laws are regarding rent, raising asking them to leave remodeling and getting a new tenant. I only have one of them on the lease which is actually expired. They are basically month-to-month.. was thinking of letting them know I leg rent more than a certain amount here in California unless that person decided to move out and one of their other not on the contract tenants signed a new lease at the higher rate? Just a reminder I am new to this.