Do I have to honor previous owner's lease?

[Lauren Ruppert]

Just purchased a multi-unit in PA. The units are occupied. Do I have to honor the previous owner's leases/ rental agreements?

[Kyle J.]

Yes, leases transfer with the property. So if they’re in the middle of a lease, you’d need to wait until they expire and then you can have them sign yours.

On the other hand, if they’re just month-to-month tenants, you can go ahead and give them notice now that you’ll be switching them over to your rental agreement.