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Updated over 3 years ago on . Most recent reply

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Will Mckenzie
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New rental property with 1 tenant and 2 leases

Will Mckenzie
Posted

So I just bought a duplex in south fl with 70 ft of dockage on the water. The tenant has 7 more months on his lease. So I’m renovating the one side and going to rent out the boat slips where I can put 5 boats tied stern too, but he shows me on his lease where the seller and realtor signed a revised lease that he has use of the dock for his boat. In the disclosure they gave me a lease that just said he was renting unit 1 and didn’t mention anything about dock. I’ve seen his lease and it’s signed by realtor and the seller. Would that fall under fraud/ concealment / non disclosure. 
I was looking at bringing in 3k a month in slip rentals now I lose that for the next 7 months

Thanks for the help

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Lynnette E.
  • Rental Property Investor
  • Tennessee
2,400
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Lynnette E.
  • Rental Property Investor
  • Tennessee
Replied

Approach both realtors.  Tell them you never received that lease, it was not disclosed and now you are out $3k for each of 7 months.  Ask them to make you whole.  They have insurance for this...errors and omissions.

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