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Updated almost 6 years ago, 12/25/2018

User Stats

68
Posts
28
Votes
John Daly
  • Investor
  • Chattanooga, TN
28
Votes |
68
Posts

Inherited tenants ... Now what?

John Daly
  • Investor
  • Chattanooga, TN
Posted
So I closed on a SFH a few weeks ago that already has tenants in place. At closing I received a copy of the lease agreement. It’s a 12 month lease and they moved in on June 29. As of today they are 6 days late on their rent. I don’t have their phone numbers, just their names. 3 days ago I put a paper notice on their door stating ownership of the property has changed, they are late on their rent and please call this number to submit payment immediately. I’m not sure how the previous owner received payment. This property is probably a B-class property and I’m sure the renters are making minimum wage or close to it. Legally, what should be my next step? Should I knock on the door? Give them a pay-by date or else? Any advice appreciated.

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