I think the fact that I do my own maintenance and gradually improve the properties while living in them makes the tenants have a better opinion of me.

We've gradually been working through our non-performing inherited tenants and while we still get late pays, we have been getting all the rent.

I have generally found that its always better to keep a tenant if you can raise the rent gradually than to boot them and deal with costs associated  with vacancies. 

Not only do you lose a full month of rent, but that's going to be turnover time where the property manager gets to go into the unit and do their 'repairs' and charge the service and call fees.I'm not a fan of gradually raising the rent either, since it doesn't seem like the property can support that strategy.Anyway, I hope the deal goes well.Jim

If you are worried about their not paying market rent, then open the discussion with what you believe market rent is, the disparity between what they are currently paying, and discuss a plan to gradually achieve market rent.

I could raise the rent gradually and skip the rehab until they vacate at some point.

Their answer came in two numbers:  1 - What their total PV was for all their properties, and 2 - What the total CF was,...neither of which answered my question.I changed the subject, gradually, to sports of some kind,...and never discussed REI with them again.STOP chasing doors...chase money...and not the number in between either,...what the CF, equity and/or PV is per property. 

You're better off letting them know you need to increase to market rent but you'll gradually increase it.

Greatly appreciate your help and insight as I was looking to build wealth slowly and gradually and to see financial freedom through real estate.

Greatly appreciate your help and insight as I was looking to build wealth slowly and gradually and to see financial freedom through real estate.