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Updated 7 days ago,
Inheriting tenants and no move-in inspection
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?