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Updated over 6 years ago,
New Owner, but old lease?
Hello,
I've just purchased a duplex and signed all the closing documents today. I did an estoppel and the tenant has a lease with the old owner that ends April 2019. I'm assumed--and maybe I'm an idiot for doing so--that when the house changes owners all bets are off! That the old lease would expire or end. But the property manager I hired (with great recommendations from a senior investor) is questioning if we can raise the rent until after April 2019. I live in the State of Oregon.
Thoughts? Answers?
Thanks.