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Updated about 5 years ago on . Most recent reply

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Stephanie Simmons
  • Flipper/Rehabber
  • Lakeland, FL
91
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Duplex purchasing - non responsive listing agents

Stephanie Simmons
  • Flipper/Rehabber
  • Lakeland, FL
Posted

If you were a listing agent for a income producing duplex - what would cause you to not respond to another agent inquiring about your listed property?

There are a few I am interested in (and I am an agent) - but before I spend time trying to work around tenants to see the property I want to know if the sellers can provide copies of the leases and proof that the tenants are paying. Am I asking too much before getting under contract?

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Kevin Sobilo#3 General Landlording & Rental Properties Contributor
  • Rental Property Investor
  • Hanover Twp, PA
3,251
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Kevin Sobilo#3 General Landlording & Rental Properties Contributor
  • Rental Property Investor
  • Hanover Twp, PA
Replied

@Stephanie Simmons, I would ask a different question to start with. Can the property be provided vacant? 

If the tenant is month to month or if their lease allows for termination with a sale. This way if you want the property, you get it under contract, then vet the tenants. If you don't want a tenant, make the seller get them out before you close. 

That is probably a simpler question then trying to get payment info about a tenant. The landlord may have poor records. They may be receiving payments in cash, not depositing them, etc. 

Or simply ask if they are currently current on their rent. That is a simpler question. 

I'm more interested in the property not the tenant because a tenant can be changed out fairly easily in most cases. 

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