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Video instructions and help with filling out and completing Lease renewal form with rent increase

Buying properties where the rents are way less than market Music what's going on YouTube is not very well thank you for watching mentorship Monday today's question comes from upon we submitted his question to help me at the Rose your group calm that has helped me as a group calm and he wrote in a question and we are answering that question right here on the YouTube page for you everybody else to learn from so thank you on so today we got Woodbourne wants to know is he's buying himself duplex up in Lackawanna County I love places with funny names Lackawanna County love it on and he's got it's it's a duplex it's a 2-bedroom 1-bath he said rent sir five hundred and forty bucks he's thinking markets more like eight give or take her door and so valid so here's here's once the Lemp is his tenants are on elites now these tenants is one you have here happen to be Section eight it doesn't matter for what I'm gonna recommend to you but the the the Von's rents are way below market so he's getting five hundred and forty bucks currently in rented the market rights eight hundred what does he do well one is a couple of options and I'll tell you what I recommend bond could just raise the rents maybe three four percent per year keep the units as in the condition that they're in keep the tenants on the current leases or just renew the lease to his lease but just you know don't make any improvements Azria their rent by you know 3% 4% per year whatever the market will allow most markets have have rent control and if you're Section eight you're absolutely going to have rent control saying you can only increase the rent but buy so much a year right so you can do that but the other what I would do is I would add some value to the property make it a nicer place for the tenants to live and ask them if they're willing to pay more value to you more money to you for the value you're creating okay so you know if it's got off street parking well what if I paved that parking lot for you what if I put up a new privacy fence for you on the outside on the inside of the units will typically upgrade light fixtures like you know put in ceiling fans put in nice fancy lights wishes you know people tend to love those those outlets where it's got a USB plug at the top and then a plug at the bottom so they can plug in anything with USB cord that's the new thing very affordable and you could put something like that in of course appliances but you know everybody loves new appliances washer dryer hookups and their units you know I tend to Matt over the washer/dryer like - they.