Handling Inherited tenants

[Nicholas Gambino]

Just closed on my first duplex and I am inheriting a tenant from previous owner. Seems like a nice tenant but still don’t know. I will be taking the lower unit and his 1 year lease ends at the end of month. It will default to month to month until we agree on new lease. I verbally told him I probably plan on doing month to month and I am talking with my lawyer about getting a contract written up.

In all honestly I would prefer to start fresh and screen my own tenant. I feel a little uneasy because the tenant has been living there for awhile and I think he got too comfortable living with no neighbor for Atleast 8 months. I also have a lot of people inquiring me if the other unit would be for rent so I am not worried about finding a new tenant.

The current tenant is paying about 200 dollars below market rate and I feel I could really give it a small update to get it just at market rate or just below. How should I handle this situation?

I was thinking of doing month to month. Let myself self settle in and than give him a 90 day notice that I will not be renewing his lease come September.