Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago on . Most recent reply

User Stats

226
Posts
159
Votes
Shaun R.
  • Real Estate Agent
  • Denham Springs, LA
159
Votes |
226
Posts

Reviewing lease on a purchase with a tenant in place

Shaun R.
  • Real Estate Agent
  • Denham Springs, LA
Posted

I submitted an offer on a rental property last night that already has a tenant in place.  This morning the question hit me... should I have included in the offer that I get to review the lease of the current tenant, or is it standard practice that you should be able to review a lease that is in place?  I would assume it's standard practice, but I don't have any experience with this.

Most Popular Reply

User Stats

2,615
Posts
2,104
Votes
Kim Meredith Hampton
  • Real Estate Broker
  • St Petersburg
2,104
Votes |
2,615
Posts
Kim Meredith Hampton
  • Real Estate Broker
  • St Petersburg
Replied

Shaun,

I would send a separate email that you would like a copy of the lease agreement during due diligence, and you will also want an estoppel letter from the tenant confirming that the information provided (lease) is true and correct

business profile image
Engel & Völkers | St. Pete
5.0 stars
14 Reviews

Loading replies...