Inheriting a tenant: do we need to sign a NEW LEASE?

[Edita D.]

Hey guys!

We just purchased a single-family home that has a tenant in it who would like to stay for another 6 months until his house gets built. There is a lease in place, with a security and pet deposit that was transferred to us at closing from previous owners.

Do we need to sign a new lease, or would the one that tenant signed with the previous owners suffice? (The less work for both of us the better, we don't want to be increasing the rent at this time, however we want to be legally protected).

Thanks!

[Kyle Hipp]

I always put my lease into play as soon as possible. If they have a lease currently in place, then you must honor it however if you both agree you can terminate the old lease and put a new lease into play. I want my lease because it has certain provisions and is set up the way I like but if you are content with the old lease then there is no big reason not to keep it.