Cat lady that comes with the property question

[Alex Passaoera]

Hello I am thinking about buying a 2 family multi in NJ. This would be my first rental property. The place is great, not a lot of work needed. The only real problem is the current tenant. She has lived in the apartment downstairs for 8 years and is currently month to month with the current owner since he is trying to sell. She has 3 cats and probably feeds others in the neighborhood. Her apartment reeks of cats (mostly food but probably some piss) and it is noticeable in the entryway. Her apartment is undervalued and the rent could be raised a good 300 to bring it up to market value for what she gets. She is stable with payment, the current owner let her rent stand for the past 4 years without raising it just because she is reliable. Question is how would you guys deal with that? Kick her out and deep clean the place? Raise her rent and try to minimize the smell? It seems to me the cats are slowly but surely devaluing the whole place but like i said, this would be my first rental property so i need some advise. Thanks.

[Russ M.]

Check whether or not you can ask to buy it with no tenants.  That puts the responsibility of getting rid of the tenant on the current owner.  Make sure you include reno costs to get rid of smell in your cost analysis.  It kind of shoots holes in your "not a lot of work needed" statement.  Maybe you can use that to your benefit by lowering your offer price.