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Updated over 7 years ago on . Most recent reply

User Stats

65
Posts
9
Votes
Nick Bleser
  • Investor
  • Northeast, WI
9
Votes |
65
Posts

We bought a foreclosure and inherited tenants

Nick Bleser
  • Investor
  • Northeast, WI
Posted

Hello BP community! We recently bought a foreclosure and have inherited tenants. They have good rental history so we don't want to get rid of them. They do not have a lease with the old landlord but do have a security deposit. I'm pretty sure they're not getting it back. 

How should I handle their security deposit? Do I make them pay me a new one or when I have them sign the new lease I just don't ask for one? Since they didn't sign a lease they don't have a move in checklist either. 

Any feedback on how to handle this situation is appreciated!

Nick

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