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Updated about 5 years ago on . Most recent reply

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25
Posts
11
Votes
Jarvis Naylor
  • Rental Property Investor
  • Minneapolis, MN
11
Votes |
25
Posts

If I buy a property do I have to keep the same lease/tenants

Jarvis Naylor
  • Rental Property Investor
  • Minneapolis, MN
Posted

Do I have to keep same lease/tenants in the state of Minnesota as the previous owner?

Most Popular Reply

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1,520
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1,619
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Tim Swierczek
  • Lender
  • Saint Paul, MN
1,619
Votes |
1,520
Posts
Tim Swierczek
  • Lender
  • Saint Paul, MN
Replied

@Jarvis Naylor You must honor the current lease and all its terms.  If it's a month to month lease you can give notice or negotiate the seller gives notice.   It sounds like you are pretty far into a deal based on your other post but if not your Realtor should be able to help you with this or you have the wrong Realtor.  Make no mistake, not all Realtors are experienced in investing and they are not a good fit for you as an investor.  You should only use an investment specialist as your agent.

  • Tim Swierczek
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The Tim Swierczek Team - Gold Star Mortgage

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