Purchased property with existing tenants; Tenants not paying rent

[Brian Olencki]

Hi everyone, I just closed on my first property this past week in Rhode Island. It was a duplex with existing tenants on a month to month tenancy. The tenants did not pay rent for two months while we were under contract claiming to be "waiting for the new owner to to pay them". I have already delivered 5 day pay or quit notices that expire today. I have also sent 30 notices for the termination of their Tenancy. The tenant sent me a message this morning stating they will be taking the missed rent up with the previous owner (my guess is they are hoping to never have to pay). Do I inherit this missed rent making it my responsibility to collect it/issue repercussions? Would the missed rent be my money at this point?

[Jeff Ronningen]

Potential lessons learned - 1) Always review the HUD-1 closing statement carefully to make sure that security deposits and rents are being prorated properly toward settlement costs 2) Ask seller at closing about the payment history of the tenants and inquire if payments are current prior to signing closing documents (I need to remember this one)