Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 3 years ago,

User Stats

49
Posts
33
Votes
Caleb Stevens
  • Rental Property Investor
  • Jersey City, NJ
33
Votes |
49
Posts

Inheriting Old Tenants vs Finding your Own Tenants?

Caleb Stevens
  • Rental Property Investor
  • Jersey City, NJ
Posted

I am currently in the closing process of purchasing a future house hack with one unit being vacant and the other unit having a tenant on a month-to-month lease. I plan on living in the vacant unit and renting out the other. The seller has mentioned the current tenants pay on time, and I am in the process of getting their rent rolls to make what the seller said was accurate.

Now the question remains: is it better to keep a paying, inherited tenant in your unit OR find your own tenant through proper screening?

Originally, my plan was to have the seller give the tenant a 60 days notice and just find our own new, freshly screened tenants (as BP recommended) BUT upon hearing that they are willing to stay and are well-paying tenants (which can be hard to find in this market), I figured they can sign a new month-to-month lease and after a few months sign a year long lease if we both okay with living next to each other. We have had a poor experience with inheriting tenants in the on our other rentals but is a well-paying, inherited tent > finding your own tenant?

Thanks!

Loading replies...