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Updated over 11 years ago,
Do I have to honor prior owner's contract with tenant?
Hello everyone! I'm new to BP, and love the forums.
My question is this: I'm looking to purchase an owner occupied multifamily property. Many of the properties are fully rented already. My question is this: once I close on a property, do I have to wait until the tenant's current lease is up in order to move into the property? Or do I have to look for properties that aren't at fully rented? I'm not trying to put the current tenants into a bad situation or anything. Does it vary state to state? I'm in Texas.
Thanks for your help!