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Updated over 4 years ago, 04/07/2020
Inherited Tenant Friends of Seller
We are set to close on our first investment property in mid-April. The unit it is a duplex with one of the units rented by a tenant for about 6 years. We were under the impression that the tenant was paying $650 per month. When we finally got the estoppel agreement signed, he is paying $600 per month and no security deposit. The tenant is close friends with the sellers and the tenant is currently on a month to month agreement. Should we push the issue of the extra $50 per month before we close or do we create a new contract with the increase of $50 per month or should we not push the issue since it would be tough to get a new tenant in during this pandemic?