Evasive inherited tenants

[Leonard Brown]

Hey BP community. I’m new to the investor side of things and have run into a dilemma.

My partner and I just picked up several occupied rental properties in Philadelphia last month. When I completed the initial walkthroughs all but one unit was occupied. Now that everything has changed hands, three of the occupied units do not have lease agreements. I have posted multiple 24hr notices and made attempts to connect with the tenants in-person to no avail.

What are my options? How have you handled your acquisitions with inherited tenants?

[Greg Scott]

I would provide them a notice that their month-to-month lease will be terminated in 30 days and they must move.  Give them the option to reach out to you to discuss signing a new lease.  If any of them take you up on that, I would re-screen them with credit and criminal check to ensure you didn't inherit someone evil.

Evicting a hold-over resident that does not have a lease is easier than evicting one with an enforceable lease that is simply not paying.