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Updated over 7 years ago,
Buying grandparents rental but we have a problem
Hello BP.
I'm looking to purchase my grandparent's condo for a rental
It's in a decent area and has currently been rented by the same tenant for the past 3 years at $625 a month.
My grandparents are in their 70's and don't want to deal with the rental anymore. However the complex no longer allows rentals. My grandparents can because they were grandfathered in because they purchased the property about 30 years ago.
Is there a way around this rule if I leave them as a partner on the lease? I do not plan to live in the property.
Thanks any advise is appreciated.