Options to remove/Increase Rent

[Timothy Burns]

Hi all, I have a pending offer on a duplex in an A neighborhood area with good rents, that I will be house hacking. 

There is a long term tenant since 2006 who is now month to month and pays well under market rate. 

What are my options on increasing the rent/removing tenant that are within the bounds of law? 

Do I have the option to create a brand new lease on my own or do I have to use the old one? 

Is there anyone in the KC area that can reccomend a good landlord lawyer? 

[Tim Herman]

@Timothy Burns Have you learned the landlord tenant rules in your jurisdiction? That will tell you if there is a limit of what you can raise the rent. It also tells you the timeline of how much notice you have to give the tenant. Until you own it their is nothing you can do. Hopefully you specified in your contract that the lease cannot be modified during escrow(don't want to assume a  2 year lease). As a pro member you get free access to state specific attorney vetted leases.  It will be under the tools section of BP. Once you close you send the tenant notice of where to send the rent and how to make maintenance requests. You give notice that their will be a new lease implemented (however many days notice you have to give) with whatever the new rent will be. Give them limited time to sign and let them know that if they don't sign in the time line specified that this constitutes nonrenewal of the present lease and you expect them to leave on the specified date.