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Updated 7 days ago,

User Stats

31
Posts
6
Votes
Todd M.
  • Real Estate Investor
  • Minneapolis, MN
6
Votes |
31
Posts

Inheriting tenants and no move-in inspection

Todd M.
  • Real Estate Investor
  • Minneapolis, MN
Posted

Hey everyone,

I'm in the process of purchasing a multi-family apartment building and just discovered none of the current tenants have any kind of move-in inspection.  A bit weird for me.  I'm use to a move-in inspection documenting the condition of everything at time of move-in.  Now, I'm imaging a scenario when every one of these tenants move out that I'll be paying their entire security deposit + interest even if there are damages beyond normal wear and tear.  Example of what a tenant might say - this 2x2' stain on 2 year old carpet was already there when I moved in.  

Any words of wisdom for this situation? 

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