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Updated about 4 years ago on . Most recent reply

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Mateusz Piasta
  • Rental Property Investor
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Purchasing a duplex in PA with tenants under market

Mateusz Piasta
  • Rental Property Investor
Posted

I am currently looking for a property to live in and rent the other part, often the properties have tenants with rents below market. Since this would be my first go, from those with experience, what are some best practices?

Can the current moratorium prevent them from moving if I as new owner want to move into a unit?

Is there a way to put a clause in the purchase agreement for proof of tenant payments up to current month?

Security deposits should be transferred to me at close, what if someone has no security deposit from their tenant? And is it possible to find out?

Would I throw in a statement in the property purchase agreement for the current owner to give notice, or allow me to speak to them before closing, or just deal with it after I buy the property? (My lease expires Mar 21)

Any other advice is appreciated too, thanks in advance :)

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