Can I raise the rent on inherited tenants?

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  • Опубліковано 18 вер 2024
  • When you buy a property, you take over the leases of any tenants living there. To raise the rent, you must follow the rules in those leases. Typically, rent can only be changed after the initial term ends and the lease is renewed or converted to a month-to-month lease. Some leases allow rent increases with a certain amount of notice, especially in month-to-month agreements.
    Check the lease agreement on file to find out how to change the rent and make sure to communicate any changes clearly to avoid confusion.
    How can inherited tenants be evicted?
    As the new owner of an occupied property, you must honor the existing lease agreement. If a tenant violates the lease by not paying rent, damaging the property, or another serious issue, you can follow the standard eviction process. Consult a local lawyer to confirm how much notice you need to give and follow local laws. If the tenant doesn’t respond or leave, you can pursue eviction.
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