Multi-Family and Apartment Investing
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 3 years ago,
inheriting Covid tenants
Under contract with a 3 unit that has tenants that weren't paying during covid. they are all month to month and the building currently has some violations on it. Also, the rents are ALL well under market rents(almost halves) for the area and the current owner claims to be sick and too old to deal with any removal and just wants to be done with real estate so I cannot ask for empty property upon sale. Asked for 20k on price reduction in lieu of evictions. Will try cash for keys but doubt as to the rental market here is as tight as the housing market.
My plan is to renovate and push rents up to market rates but not sure if inheriting these tenants will be worth the headache.
Looking for advice from anyone experienced in Mercer County (Trenton) NJ with evictions in this current climate.
any eviction attorney anyone can recommend?