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Updated over 8 years ago,
Should I inherit a tenant of a mother in law suite?
Hello BP,
I am looking at a property that has an attached mother in law suite with a separate entrance, kitchen, full bath and a 3 year tenant. It looks like this SFH was rented out as two separate units, the main floor being unit 1 and the basement as unit 2 (they even have separate mailboxes), I will be occupying the main floor.
From what I can tell, the tenant is a single young working professional. My plan is to get the tenant into a month-to-month lease at least for the first 6-12 months then go to a yearly lease.
So the question of is it a good idea to inherit a tenant from a mother in law suite?
Thanks,
Nicu