Buying a rental with existing tenants.

[Reagan Huefner]

Hey Landlords, I’m closing on my first property in a few weeks. It’s a duplex that has short term leases on both units. My plan is to move into the top unit and have the renter that live there now move to the bottoms since they want to stay long term, and the bottom is updated. The owner doesn’t want to give me a copy of the leases or tenant contact information until closing. Since I am buying the property and hence the leases do I have the right to see them and/or contact the tenants? Thank you!

[Fouad Hayek]

Hi Reagan,

This is quite a strange predicament. Unless it is a privacy issue, I have never been faced with a landlord who is holding back the leases until after closing. There is no rule that you cannot contact the tenants unless you signed something that said so. So that can be one way to see what is going on. 

I am assuming you are not using a realtor here, because if so, the realtor can make sure you have all the info you need prior to taking on the property and the leases. I personally not a fan of anyone withholding what could be valuable information.

I would communicate to the seller that you are buying the leases and deserve to see what is going on. I would also make sure you are protected from any clauses that can inhibit you from trying to execute your plan with the duplex.  I would hate to see you having to file an eviction right after you purchase should something arise (worst case scenario).

I hope this helps! Good Luck!