How do I verify current rents when analyzing a rental property?

[Nate Castle]

Hi can you guys help me out with this question? What’s the proper way to verify current rents when analyzing a rental property for purchase? I asked the owner for a copy of the leases, he said he can’t give those to me. Whats proper way to ask for verification? Thanks

[Ned Carey]

@Nate Castle Most landlords won't give you the leases etc until it is under contract. The contract should have a due diligence clause to verify the rents.  if it is a property of significant size i would want leases, tax returns,and estoppel letters. 

An estoppel letter is a letter from the tenant saying what the terms of the lease are and to make sure there are not hidden or verbal promises.