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Updated almost 2 years ago,
Seller Negotiting Rent Renewal for Current Tenants
Hello, I am writing an offer for a property that is currently rented at market rent value. The seller wants to close urgently and in addition to negotiating the price, I would like the seller to negotiate with the current tenants to renew the lease and with slightly higher rent. I have been informed that the tenants would like to renew the lease as of now.
This gives me assurance of positive cash flow until 2024 and removes the work to find new tenants. Can the seller negotiate lease renewal for a potential buyer? My agent says no but I don’t see a reason on why it’s impossible.