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Updated almost 5 years ago on . Most recent reply

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Maggie Thompson
  • Denver, CO
0
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15
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Advice on vacating existing tenants in Duplex prior to close

Maggie Thompson
  • Denver, CO
Posted

I am about to put an offer on my first duplex and had concerns with the existing tenants and need advice. Unit A is being rented for $1,000/mo on a month to month and Unit B is being rented for $1400/mo for 10 months left on lease. Is it possible or is it in my best interest to put it in the offer that all tenants need to vacate prior to close? Is it recommended to put terms such as this during the offer process? I ideally am ok keeping Unit B tenants in place since they are close to the rental average in the area. However, I would like to remove the tenants in unit A or up the rent to $1400. I'm afraid of dealing with existing and possibly angry tenants by increasing the rent and was wondering if I should just try to vacate both the tenants in both the units. I want to be cautious of existing tenants causing any more damage to the place. What is the best way to handle this situation to protect myself from future problems post close? Any other advice on first time duplex investor would be greatly appreciated too!

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