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Updated over 3 years ago,
Prorated rent during sale of multi unit complex
We are closing on a 16 unit complex on July 2nd. The current seller is asking for prorated rent outside of closing. Im wondering how this has worked for others. Should the seller be paying " expected" rental income to us at closing and continue to collect the July rent as normal so we have the time to notify tenants of turnover and how to pay rent moving forward? I feel like it is too close to closing at this point to notify tenants that they need to change their payment method and where to deliver it. Thoughts?