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Updated over 8 years ago,
Listing an apartment before purchasing the building
Hello all,
I have been following the BP podcasts and reading the forums for a few months now and I'm about to make the jump into house hacking. I just looked at a triplex in the chicagoland area. two of the units are already occupied. I'm not really sure how I feel about inheriting tenants so after getting home from the showing, feeling confident that I am going to buy it. I made a listing on CL within a few hours I started getting hits on it. I have a few questions that maybe some of you can help me with...
What should I tell the interested tenants when they text/email me?
It says the current tenants are on a month to month basis right now... will it be difficult to vacate them? or do I just raise the rent so they move?
Would it be worth it to hire a person to act as the property manager? I know I am a kind person and I don't want to have the tenants walk all over me... also I'm 25 and the tenants are much older than me.
I know the one tenant is smoking in the apartment which I am not ok with.
What are the pros/cons of allowing pets?