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Updated about 4 years ago, 09/29/2020

User Stats

17
Posts
2
Votes
Nuo Shi
2
Votes |
17
Posts

What rental documents should be included in disclosure?

Nuo Shi
Posted

HI BP,

1. What should be the rental documents included in property disclosure when buying with existing tenants? I'm thinking about estoppel certificates sent to and received back from tenants; leases; rental agreements; and current income and expense statements. Anything missing?

2. Is that legal to ask seller to provide current tenants' occupation/income? May I ask how many people live in current property? Since I found the lease it's signed by "one tenant name + his parents/families (no name for each adult)"

3. For a month-to-month lease, should I wait until close and send out 30day/60day notification to change lease term (e.g. rent, regular inspection timeline)? Ideally, I'd like to cover the new terms when I sign the lease with existing tenants before close, but since there is a pre-notification period and the property still belongs to seller, I don't know how to manage the timeline. This is in California.

Thanks for advice

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