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Updated 7 months ago,
buying a property with existing tenants?
How does this even work? Do i have to honor the old lease until it is up for renewal? Can I immediately change rules/rents? What is the process for taking over the old lease? Changing billing on utilities, etc?
Most of the bad things concerning tenants have happened from inheriting existing tenants when buying a property.
Any advice or experience on this issue would be greatly appreciated.
I'm currently looking at a duplex for sale with existing tenants, trying to learn the ins and outs of possibly dealing with that issue.
Thanks in advance.