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Updated over 1 year ago on . Most recent reply
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Buying property with existing tenants
I’m currently living in a duplex with the other side empty and undergoing renovations. The current landlord is planning to sell the property soon.
As a prospective new owner, how likely are you to keep current tenants if they have been endorsed as good renters by the current owners?
I know the other side will likely still need some repairs and updates, so I’m hoping most prospective landlords would be glad to have one side already occupied by a good tenant. Just wanted to see how a landlord would feel about it.
Most Popular Reply
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Quote from @Audra Blake:
I’m currently living in a duplex with the other side empty and undergoing renovations. The current landlord is planning to sell the property soon.
As a prospective new owner, how likely are you to keep current tenants if they have been endorsed as good renters by the current owners?
I know the other side will likely still need some repairs and updates, so I’m hoping most prospective landlords would be glad to have one side already occupied by a good tenant. Just wanted to see how a landlord would feel about it.
If you're at or near market rent and a good tenant, I wouldn't worry too much.
If you're way below market I'd anticipate a rent increase.