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Updated over 4 years ago on . Most recent reply

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39
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Kendrique Coats
  • New to Real Estate
14
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39
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New tenate with an old lease

Kendrique Coats
  • New to Real Estate
Posted

I have a new renter who has an old lease. How do I void out their old lease while having them sign and become responsible for abiding by the terms in my lease?

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Greg Scott
  • Rental Property Investor
  • SE Michigan
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Greg Scott
  • Rental Property Investor
  • SE Michigan
Replied

I'm assuming you bought a property with an existing tenant, otherwise you should be putting new renters on a new lease.

Almost always, when you buy a property the existing lease is part of the purchase which is why you do due diligence on the leases themselves.  If you don't like the lease you can have the resident sign a completely different lease when the old one ends.  Otherwise you can provide them some enticement to change leases mid-stream.

You cannot force them to sign a new lease just because you don't like the old one.  You are obliged to honor the existing lease.

  • Greg Scott
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