Idaho Eviction Laws in order to renovate

[Tanner Kenneth Jenkins]

Hey guys, hope you are doing great on your investment journey. I was hoping to get your guys insight on the eviction process when you first buy a rental property. The idea is to add value to the property in order to gain equity for your next property, right? How does that work when you buy a property with already existing tenants? Can you evict them? Or do you have to wait out their leases?

[Laura Marks]

I don't know Idaho laws but you'd need to find out if the lease is assigned to the new owner or if it defaults to month to month with the transfer. If month to month, then you can give 30 days notice, you don't need to evict them. Also, I always try to get existing tenants to market rent without any rehab. Often times the long term tenant doesn't want to move, they realize they're paying less than market rent and will resign a lease with you. I like to offer an upgrade like new living room carpet (instead of rehab costs) and retain them while increasing rents.