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Updated over 4 years ago,

User Stats

55
Posts
19
Votes
Tim Richter
  • Rental Property Investor
  • Peabody, MA
19
Votes |
55
Posts

The Complications of Inheriting Tenants(Advice?)

Tim Richter
  • Rental Property Investor
  • Peabody, MA
Posted

Hello Bigger Pockets!

I'm happy to say that at the end of April I closed on my very first property. Yay! I purchased a two family in Haverhill, MA and I'm eager to get in there and start improving. Here's the catch, the property came with tenants. This could be seen as a huge problem, but in my case it was seen as an advantage. Both tenants are on section 8 and during these trying times (Covid-19) a guaranteed rent check is pretty attractive.

So here's my issue. Our P&S agreement stated that the property needed to be delivered with the upstairs unit vacant within 60 days of closing. I've contacted the housing authorities and it's beginning to sound like the upstairs tenant won't be out of there by the anticipated date June 1st. Considering there is no way to evict currently I decided no big deal, I'm just going to collect rent until they leave or I can evict(whichever comes first).

I'm not really worried about having to evict yet. My bigger concern is what I need to do (i.e. forms/contact/notices/other) so that I can have these tenants pay me their portion of rent. The vouchers I'll receive, but how would you guys and gals go about letting the current tenants know how they need to pay rent? 

To clarify, I'm keeping the current downstairs tenants for now, eventually need the upstairs tenants to leave, but need to make sure I get paid for the time they both are occupants. Both are section 8 TAWs.


Any advice is appreciated and if you have any questions I'm happy to answer. Just wanted to keep it as short as I could. 

Thanks

Tim

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