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Updated about 13 years ago,
Getting free house with Tenant...help!
Hello, my uncle is 89. He is deeding a house to me that he owns & collects run on. It's paid off and brings money in. The tenant is an older woman has been in it for years! Like 10 or more years and not trying to move. When he told her I was going to take over, she asked if I was going to kick her out. He told her no. I'm not going to as she is a faithful paying tenant. She was relieved.
So, this house will be deeded to my newly created llc in 1-2 weeks. What are my next steps in dealing with her. She sounds long term. Im in Dallas. She is 90 miles away in another city.
1. Have her sign a lease with LLC? If so, where do I get a lease agreement?
2. ???? Help!!
3. Do I need a property mgmt company?
Please tell me all I need to do. I am looking for next steps and best practices!
Tanks!