Can foreclosure buyer raise rents on tenants?

REThink Real Estate

Q: I owned a rental property that was fully occupied but still underwater by several hundred thousand dollars. I put it on the market as a short sale, and got several offers, including one from a buyer who ended up withdrawing her offer before I accepted any of them.

In the end, the bank did not respond to my short-sale application in time to stop the property from going to auction, and I lost it to foreclosure.