Inheriting tenants with no leases

[Michael H.]

I’m looking at picking up 3 duplex’s in Georgia. 5/6 units are occupied, but come to find out they all only have verbal agreements with the current owner.

Ideally I’d be able to get them to sign new leases with me, but concerned that if they refuse I could have a big legal mess in my hands. Also, if they don’t like the rise in rent and just stop paying, I’m not sure if that becomes an eviction issue or a squatting issue.

This deal is close to being on the fence if it’s worth it or not. Wondering if something like is a crap storm I’m stepping into.

Any idea or experience you share is appreciated.