Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 16 years ago on . Most recent reply

User Stats

11
Posts
0
Votes
Amy Kellogg
  • New Jersey
0
Votes |
11
Posts

Inherited Tenants - What to do???

Amy Kellogg
  • New Jersey
Posted

Friends:

Thanks to some great info on this site (Mike OH etc), I finally am taking the plunge. I will close on my first investment property in the next 3 weeks.

I have many questions:

The rental is currently occupied. But, the lease expires in June. I am planning on renewing their leases - they indicated their desire to do so.

Do I do a credit check, make them fill out an application form etc. as a standard procedure?

What are the other watchouts - things I need to do to stay out of trouble - with law and financially. I live in NJ.

I know I need to open new back accounts for the deposits. Other than that I am pretty clueless right now.

Any help is greatly appreciated.

thanks,

Amy

Loading replies...