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Updated about 6 years ago on . Most recent reply

Account Closed
  • Washington, DC
6
Votes |
42
Posts

Existing tenant is not paying rent

Account Closed
  • Washington, DC
Posted

The seller just provided us the financials and rent rolls for the current tenant. She has not been paying for the past 7 months. Per my agent, the seller said that the tenant stop paying because she informed her that she was selling the property. What should I do now? The tenant lease ends March 2020. Should I still go head with the deal? I need your help.

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Christopher Smith
  • Investor
  • brentwood, CA
729
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Christopher Smith
  • Investor
  • brentwood, CA
Replied

I wouldn't agree, under any circumstances, to purchase until the tenant is out, and an inspection of the vacated property is performed. 

I'd also be very concerned that a dead beat like this might attempt to sue anyone even tangentially connected with the sold property (e.g., like a new owner).

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