Under contract on duplex and current owner then moves a tenant in

[Greg Van Brunt]

I went under contract to buy a duplex. One side is rented and one side vacant. Since I completed inspections, the current property manager found a renter for the vacant side. My agent told me it's a month to month agreement with deposit. Should I be concerned? Is this normally accepted? My concern is I agreed and accepted as is. I dont have any say now if the property is destroyed between now and then... any thoughts? Thanks. This property is located in Tecumseh, OK. 

I like the idea of no vacancy but it's my first rental property and would like some input. Thanks!

[Thomas S.]

First investment. You are now in a extremely steep learning curve. Hopefully you have studied your state landlord tenant regulations and fully understand  how to operate your business, manage tenants etc.

Fortunately the owner is using the best possible lease, M2M. Make sure you have esstopal letters. M2M will allow you full control over your tenants. If they work for you keep them on M2M. If they do not work out you simply non renew and find your own tenant.

Stop worrying about tenants doing damage. Concentrate on managing your property. Emotions (fear) have no place in business.