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Updated almost 3 years ago on . Most recent reply

User Stats

16
Posts
1
Votes
Kolton Gutierrez
  • Investor
  • Arkansas
1
Votes |
16
Posts

Inheriting tenants that don't have a deposit

Kolton Gutierrez
  • Investor
  • Arkansas
Posted

I'm in the process of buying a duplex and I asked whether the current tenants have a security deposit. They said that they were credited a deposit when they bought it as a rental and that the title company will do the same. The other unit is a family member that they never took a deposit from. They are each on a month to month lease and I told my realtor I want them to get a deposit from that tenant before closing. And If their family member/tenant does not want to pay a deposit that they would have to handle evicting that tenant before closing. I feel that is reasonable as I don't want to inherit a tenant that I am left paying out of pocket to cover repair costs or pay for an eviction process. Am I going about this the right way or is there another way I should be handling this situation?

  • Kolton Gutierrez
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