What to include in an offer for occupied property?

[Andrew Varney]

I'm making an offer on an occupied duplex in the Tampa, Florida region. I've bought empty property and primary residences before, but this is my first offer on an occupied property to buy-and-hold. What things should I ask for/about which I may not think of? 

One tenant has been there seven years and is Month-to-Month and the other has been there three months and is on a one-year lease.

Things I will ask for:

1) Tenants' Contract / Lease Agreements

2) Rent Roll Receipts

3) Transfer over any deposit + accrued interest

4) Extended inspection period (I wasn't able to walk through one side of the duplex due to the tenant not responding to the seller/agent/door knock day of).

5) Transfer any pre-paid rents

Should I ask for:

6) Should I ask them to sign the Month-to-Month tenant to a new one-year lease?

7) I want the tenants to pay through Cozy or another online platform (haven't decided on which yet). Should I ask that to be included now or just wait until I close?

Any other things which should be included?

Thanks for your suggestions!

ASV

[Aaron T.]

good luck. occupied properties can swing both ways. 1. it could work out if the tenants want to stay, or 2. a bad situation if you want to get in there to fix up the properties to increase the rents. your 7 yr tenant will not take kindly to change. 

why is the owner selling? to cash out? bad tenant situation? moving on with life? etc?

let us know how it works out.