All Forum Posts by: Amanda Shreve

That's what I assumed. We're just managing the property for the company that owns it. It's not uniform with our other properties we manage, however. We just collect the rent for them and deal with the tenants' concerns. According to the company, they didn't receive any paperwork for the existing tenants from the previous owner. They purchased the properties for the sole purpose of tearing them down to expand their parking lot. The tenants are moving out now, to prepare for the demolition, so all of this is just now coming up. The company that purchased the properties didn't have the tenants sign any new leases with them. I have a feeling that the company will just pay out the deposit that the tenant claims he gave, since all of this wasn't handled correctly. It's my understanding that the new company did not perform a walk-through of the property when purchasing, either. 

Good morning,

I work alongside the Property Manager in the real estate office that I work at. I'm not licensed but I'm doing my best to learn what I can. We do have a lawyer that we work with often but, before we head there, I just wanted a bit of an understanding on this topic.

If someone purchases a property and keeps the tenant that the previous owner had, who is responsible for returning the deposit to the tenant, when the tenant moves out? We're currently having an issue with the tenant claiming he paid $550 when he moved in but does not have a receipt. The previous owner did not leave any documentation on this.

Thanks!