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Updated over 2 years ago on . Most recent reply

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Ty Jones
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Lease question - first time landlord

Ty Jones
Posted

Hi all - first time landlord here. My wife and I just bought and moved into a duplex where the 2nd unit was already occupied with tenants.  They were on a month to month lease with the previous owner.  My question is should I/Can I have the tenants sign a new lease agreement and would it supersede the old one? I know existing lease agreements remain in effect for the length of their term when buying a house but the month to month thing is throwing me off.  Essentially we would keep the terms the same but specify a move out date a few months from now so my wife and I can move into their unit and renovate

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102
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Nick Coons
  • Investor
  • Tempe, AZ
67
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102
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Nick Coons
  • Investor
  • Tempe, AZ
Replied
Quote from @Ty Jones:

Hi all - first time landlord here. My wife and I just bought and moved into a duplex where the 2nd unit was already occupied with tenants.  They were on a month to month lease with the previous owner.  My question is should I/Can I have the tenants sign a new lease agreement and would it supersede the old one? I know existing lease agreements remain in effect for the length of their term when buying a house but the month to month thing is throwing me off.  Essentially we would keep the terms the same but specify a move out date a few months from now so my wife and I can move into their unit and renovate


Depending on when "a few months from now" is, getting into a new lease might be overkill if you're not looking to change the terms otherwise (you just want them to leave in a few months). If "a few months from now" means, say, three months, then you should just be able to give them a 90-day notice to vacate.
  • Nick Coons
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