Offering on property but need the property vacant legally

[Carlos Rodrigues]

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!!

[Deanna McCormick]

I doubt seller will accept any type of contingency for this tenant. 

I would be happy you have income on the one unit currently occupied, 

this gives you chance to upgrade and do work on vacant  unit while still having income. 

After you have the vacant unit rented. Give current tenant 30 day notice that his rent will be increased to what ever you feel is what you need. He will either decide to stay or go.

Don't rock the boat with contingencies at this stage of game with seller. 

I prefer my tenants on month to month it give me more control.