Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. 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 about 7 years ago,

User Stats

1
Posts
0
Votes
Brandon Flood
  • Mason, MI
0
Votes |
1
Posts

New owner looking to change a pre-lease before it starts

Brandon Flood
  • Mason, MI
Posted

I am looking to purchase a multi-family house that currently has tenants living in one of the units. The current owner is charging them well below market rent, and I was told that they signed a year "pre-lease" through June of 2019 (so doesn't start until June 2018) with an minimal but insufficient price increase. I am wondering what the laws are around a new owner changing the terms of a lease that hasn't yet gone into effect.

I've already considered the prospect of lowering the purchase price by the amount we are missing out on, but haven't proposed that idea so I'm trying to cover my bases. Thanks in advance!

Loading replies...