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Updated over 3 years ago on . Most recent reply
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Inheriting Tenants on House Hack First 3 Unit Multi (RI)
Hey Everyone! Looking for some guidance as I am closing on my first investment property in RI that I'll be housing hacking. All units currently occupied, on month to month that haven't had paperwork since about 2017, and 1st/2nd units under market rent. Closing date was July 20th with the second floor unit (least qualified tenant/way under market) being vacant at closing. Initially pushed closing out to this late b/c knew tenant would have to relocated. However, there have been new developments and I am looking for some input:
- - My realtor contacted me yesterday saying that the 1st floor tenant would be moving (mother to second floor tenant). No problem, I would go in and complete the renos needed on 1st floor and live in 2nd unit.
- - THEN found out the 2nd floor tenants apparent housing that was lined up fell through AND 1st floor not moving until July 31st. Thus seller's agent asking if I would push closing, move into 1st floor unit, and allow current 2nd floor tenant to stay. This tenant has a dog & cat - I am not allowing pets nor does my home insurance.
Trying to figure out best way to handle this situation and would appreciate any feedback/input!
Thank you in advance. I truly appreciate it!
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It's going to be tough to force anyone to move. Rhode Island is still in a state of emergency, in the middle of a housing crisis and is a tenant state. i would do my best to make it work with them, if they get a bad taste in their mouth they could just stop paying and eviction could take forever.
- Matthew Crivelli
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