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Updated over 7 years ago on . Most recent reply

User Stats

243
Posts
108
Votes
Moshe H.
  • Rental Property Investor
  • Ramapo, NY
108
Votes |
243
Posts

Buying a non-conforming apartment, no 2nd egress

Moshe H.
  • Rental Property Investor
  • Ramapo, NY
Posted

Hi guys, I am in contract on a 4-unit building. It's a very old building and one of the units does not have a second egress. I am planning to create one ASAP after closing but after speaking with some local contractors it looks like it will not happen for a couple months. The apartment is coming with tenants - and I am concerned about liability should something happen. Does anyone have any recommendations? Should I give the tenants 30 days notice to move out as soon as I close? Or maybe if and when I actually get them out it will only be a few weeks until I do the work anyway, so it's not worth the bother...? Can I have them sign some kind of release?

Thanks!

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