Buying a tenant occupied

[Brandon Walston]

If I buy a property with tenants in place and they recently had there lease renewed do I have to honor that lease agreement or can I get a new one in place ? Reason I ask is the market rents are way higher in the area and the asking price does work with currents. 

[Andrew B.]

You absolutely have to honor the leases. The old landlord's signature is equally as valid as though it were your own. If the leases are under market, it is your responsibility to reflect that in the your offer. If a lease was signed after you went under contract, you should ask the seller to give you a credit for the lost rent.