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Updated about 4 years ago,
collecting back rent when you buy a property?
hey BP - i know that when you purchase a multi-family investment property the tenants and leases come with them. historically...if the tenant owes back rent (lets say they are 3 months behind with the previous owner) can I collect that back rent and/or evict them for non-payment as soon as you take over?
part 2 - COVID impact... in NY you can't evict right now. if I buy a property and the tenant is 6 months behind, are you (As the new owner) able to work with the tenant to apply for rental assistance to catch them up? does that 6 months back rent go to you or the previous owner? any weird catches like that?