Tenant screening process

[Kallie Krammes]

When looking into investing in rental properties, I have been reading about tenant screening processes to make sure you get the desired tenants you’re looking for. However, if you are wanting to purchase a multi family property that already has tenants who have signed a year lease, how can you go about screening them? Do you just take on the tenant agreement held by the previous owner and can only change it or do screenings after the original lease is up?

Any advice or insight would be appreciated!

[Kenny Dahill]

@Kallie Krammes, lots of good nuggets above.

You may also ask to review their rental applications.  You legally cannot have access to their credit reports though.

However like others have mentioned, you must honor the current lease in place.  You burden risk when you acquire an occupied building but you also have rental income on Day 1.  Which is nice.