Inheriting Existing Tenants

[Tracey Marzich]

Hi everyone! Brand new to BP. We are in contract on a property that has 2 houses: a 3 bed 1 bath "main house" next to a 1 bed 1 bath "apartment" which both have existing tenants. We close on July 1 and have sent a message to each tenant (through our Realtor) about the rental amount we are asking as well as an application for them to fill out if they are interested in staying. I am curious to know what the traps are for keeping an existing tenant in place, if any. We will screen them the same as we have our other tenants and ask for a security deposit. What should be at the forefront of our minds? Thanks!

[Account Closed]

Originally posted by @George P.:

oh, i somewhat agree with @K. Marie Poe . it is too early to get them to sign anything. they are not your tenants, so even if they sign they can say "she didn't own it then".

that's why i got mine to sign after the closing.

the reason for talking to them BEFORE closing was to get them evicted if they are not paying/terrible/argumentative from the start.

i dont agree with the "legal advice" part. you'd pay a lawyer just to tell you the same thing.

I'm not stickler for where the legal advice comes from. Doesn't have to be a paid attorney. Even a call to a local landlord association to confirm requirements for changing rents might be enough.

The internet has made free info available to both tenants and landlords. Even tenants without a computer can go to the library. Tenants without funds to pay rent or who don't want their rent to change can easily find out what's legal and what's not. The days of making requests of tenants wily nily are pretty much over.