Buying a property with tenants

[Adam Lang]

When looking to buy a rental property that already has tenants in place, is there any way to confirm that the tenants are current on their rents and that the seller isn't looking to sell because they don't want to deal with the eviction process? How likely is it to buy a rental property and have to evict the tenants the first month for not paying rent?

[David Pere]

@Adam you can have them provide income/expense reports (and you should do that). You could also bring an Estoppel agreement (can find one on Google) with you to the inspection and have the tenants fill it out. This validates that what they say they're paying is the same thing that the seller is saying they pay.

As far as eviction, that just depends. Screen as well as you can, I've had a property with evictions when I purchased, and I've had plenty without.