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Updated over 8 years ago,
Am I missing anything? Inheriting Tenants
We are in the process of closing on a duplex in St Pete. One of the units is occupied with a new lease so we are inheriting those tenants. I wanted to make sure we're not missing anything before we close:
- Requested an estoppel agreement to be signed at the final walk-through
- New/updated lease will be signed honoring the previous terms
- Requested to see the rent roll
- We have a copy of the lease
- The sellers agreed to replace the roof before we close; we asked for the roofers information to make sure they are licensed/will pull a permit, and to get information on the roof.
- Will confirm that security deposits will be transferred
Another concern/question I had is about paying cash for keys. The tenants are smokers, have a record, and are possibly getting a dog (through some type of disability program) even though their current lease says 0 pets. We were thinking of giving them 2 months rent and asking them to find a new place. Is this legal if they agree? Can anyone think of anything to be careful about?