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Updated almost 7 years ago on . Most recent reply

User Stats

26
Posts
2
Votes
Tyler Jordison
  • Rental Property Investor
  • Ankeny, IA
2
Votes |
26
Posts

Lease Question - 1st time house hacking

Tyler Jordison
  • Rental Property Investor
  • Ankeny, IA
Posted

Hello All, 

My wife and I just got our first duplex under contract and intend on house hacking it. The side we wont be living in currently has a month to month lease. When we close and take possession we will be requiring they sign a one year lease if they would like to stay (they've lived there for 12 years so I am not too worried that they'll put up a huge fuss). My question is... with a month to month lease, do I have to "serve notice" that I wont be renewing their current lease (because obviously I will have my own) and give them 30 days (according to their current lease) before I can introduce my own lease...? If it was a 6 month lease or year lease that they were currently in, I would obviously just ask them to sign my lease at the expiration of the current one but for month to month I am not so sure. 

It is probably a super obvious answer but like I said, this is the first time we've ever been landlords so we're just learning as we go! 

Thanks all, 

  • Tyler Jordison
  • Loading replies...