In this case we would probably ask them to sign a year extension on the lease and pay for the venting.

I don’t know what the rent is or how much longer he has on the lease, but $5k at a little bit extra every month would take quite awhile to make up.

I have a chance to acquire a property that includes a mobile home park (100% leased) and a separate multifamily property.

New potential tenant put 09/01/2024 to 08/24/2025 for the asked lease dates. is it normal to have it shortened by a week for the last month?

Being clear about what’s covered in the lease and by local laws can avoid misunderstandings and set their realistic expectations.If you do plan to carry out the cosmetic upgrades (because the property is overdue and of course you want to ensure your tenants are enjoying their home to the best of your abilities), try to schedule the repairs at times that minimize disruption.

Quote from @Milan Herskovich: I haven't seen the details, but it appears the new inspection process will be more stringent and more frequent. 

Hello @Michael Dallas,To verify the seller’s information, ensure you request these essential documents:Rent Roll (to confirm rental income and occupancy)Lease Agreements (to review tenant terms)Financial Statements (past 1-2 years, including income and expenses)Property Tax StatementsUtility Bills (if applicable)Maintenance Records and recent CAPEX reportsInsurance Policy DetailsInspection Reports (any recent or previous reports)These will help you confirm the property’s income, expenses, and condition.

Also remember that we are getting to the slow months to lease up properties and it may take a while.

Hey @Chris Packer, with your building’s appreciation and solid lease potential, you’re in a great position, even with the cash crunch.

I have a landlord who wants to terminate a 12-month lease early so they can move back into the property.