Buying a property with tenants

[Brandt Baize]

I am looking at some properties, a lot of which already have tenants in them month to month or on a year lease. Would you buy properties now with tenants in them? If yes what do you ask from the seller to provide.  if not why?

personally I have a list

Signed lease

Security deposit/last months rent

Proof of background/credit check

Proof of job history

Proof of rent deposits into sellers account and rent deduction form tenants on lease

anything else you would add

[Brandt Baize]

Thank you all. I asked for a year to date report and they were honest. Tenants haven’t been paying for 3 months. I have a pretty good feeling they have a problem and hopefully I have a solution. I made an offer and added a contingency on no current renters or lease. Fingers crossed. 

I think a standard rental agreement says you as a landlord can break the lease do to the sale of the property.