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Updated over 8 years ago,

User Stats

214
Posts
29
Votes
Carlos Rodrigues
  • Investor
  • Kearny, NJ
29
Votes |
214
Posts

Offering on property but need the property vacant legally

Carlos Rodrigues
  • Investor
  • Kearny, NJ
Posted
Good morning BP! I'm planning to put a offer in a multi family property. According to the seller the 2nd floor will be vacant at closing and the 1st floor will be occupied by a tenant paying $1,000 rent month to month. The rent is low for the area and I know I could get $1250-$1300. That's about a $300 rent increase and it'd be money I'm losing it if I don't increase the rent. How can I offer the current tenants to stay for a new lease with rent increase? Or should I ask for the entire property to be vacant, but could I even do this? What would you guys recommend me doing? I want to put a some sort of contingency in my offer, how could I word this? Thanks again in advance!!

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