Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 4 years ago on . Most recent reply

User Stats

12
Posts
3
Votes
Adrian Santos
  • Jacksonville, FL
3
Votes |
12
Posts

House hack with inherited tenants and fully occupied

Adrian Santos
  • Jacksonville, FL
Posted

Hi,

I'm currently in a contract for a house hack with inherited tenants. Question is, both tenants are on month to month leases but have been there for more than 5 years. Unit A (5 years) young student tenant, Unit B (20+ years) old 60+ year old. What's the best way to approach that I need the more outdated unit to be empty after closing? The other unit seems to be stable and not outdated (Unit B).

Here's what I'm thinking:

  • - On closing, will send them that I'm the new owner/manager of the place
  • - I'll give a 30-day notice to the outdated unit (Unit A). Not renew the lease anymore.
  • - I'll make the other unit sign a month to month lease under my contract for a trial before I decide if I should keep/not. (Unit B)

What do you recommend that I should do?

Should I do both units empty after closing instead? I don't mind vacancy for now anyway since I need to renovate some things in Unit B too plus the mortgage payment was higher than my previous apartment rents.

I know that coronavirus related items are that eviction is withheld until December if it's related to COVID but I'm not renewing Unit A's lease anymore so I don't think there's a reason for a CDC exemption.

Thanks

Loading replies...