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Updated about 10 years ago on . Most recent reply

User Stats

139
Posts
27
Votes
Dustan Marshall
  • Investor
  • Hamilton, OH
27
Votes |
139
Posts

buying a current rental and may need to evict tenant

Dustan Marshall
  • Investor
  • Hamilton, OH
Posted

hello BP

I am considering purchasing a property that is currently a rental.  Not sure how the lease is written up between existing Tennant and LL.  But I know they are behind on rent.

If I buy the property what are my options.  force them to sign a new lease?  Evict and start fresh with someone I have vetted?  Or am I bound by some else's lease?

Most Popular Reply

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1,737
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1,507
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Jeff Rabinowitz
  • Investor/Landlord
  • Farmington Hills, MI
1,507
Votes |
1,737
Posts
Jeff Rabinowitz
  • Investor/Landlord
  • Farmington Hills, MI
Replied

If the current tenants are behind on the rent have the current owner start eviction procedures. If they do not, you must have a copy of the current lease, the tenant's application and the rent roll. This is material to your purchase offer. If you are planning on buying a problem your purchase price should be reduced so that you are well compensated for solving the problem.

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