18 Year Tenant?

[Daniel J.]

I'm in the process of looking at a duplex plus a separate garage apt here in the Conroe area. Speaking with their agent I found out that the tenant in the apt has been there for 18 plus years. They are running year long leases. Obviously there are some pretty major pros and cons with a tenant who has been their that long. What are everyone's thoughts on that?

Also, the listing is incredibly vague, just that it's a duplex and garage apt, and they are all 2/1's. Should I be concerned it's that vague?

Thanks!

[Laura Sulak]

Unless they're wrecking the property or engaging in criminal activity, a long-term tenant can be a blessing. They consider the property their home, so they tend to take better care of it. They've paid rent for 18 years, so there's a good chance they'll continue to do so.

The major drawbacks include potentially being stuck with undervalued rent (at least for the duration of the lease), and potentially high rehab costs to update once they move out.

Your realtor should at least be able to at least give you some basic information about the tenants.