Substantial rent increase notice

How do i give a substantial rent increase notice? I am closing on a property where average rent is 2200/month but the old tenant is paying 1400/month and has been residing from 13 years. During the tour, the tenant mentioned they are ok with rent increase as long as it is slow and gradual and they understand current rent is way below market. However, their current rent or minor rent increase won’t even put me in a positive cash flow given the price i am buying the home for.

I am going to be a first time landlord.

submitted by /u/Mediocre-Brief-8121
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How do i give a substantial rent increase notice? I am closing on a property where average rent is 2200/month but the old tenant is paying 1400/month and has been residing from 13 years. During the tour, the tenant mentioned they are ok with rent increase as long as it is slow and gradual and they understand current rent is way below market. However, their current rent or minor rent increase won’t even put me in a positive cash flow given the price i am buying the home for. I am going to be a first time landlord. submitted by /u/Mediocre-Brief-8121 [link] [comments]

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