If they have been decent tenants, granted you are taking the word of the seller, I would prefer to keep a tenant in place especially if the will handle the rent raise.

As much as this seems like a lot, it was well worth it and as long as you can handle the workload it may be something to think about.

Tenant ObligationsOne advantage of investing in retail properties is that tenants are typically responsible for their leased premises, and the landlord handles everything outside of the tenant’s walls, typically including the roof and structure.

Obviously if it’s an eviction and handled by the courts, a deputy will handle then mandatory eviction.

Greetings to all fron NJ.
late 60's couple, husband died unexpectedly at work, just before Christmas.
SFH. They have been wonderful tenants...period. We were blessed with their tenancy.
Their plan was a move South ...

If he has no money to call an attorney, he could still call the title company and closing attorney who handled this transaction as a start.Also, a lender can’t demand more than he is owed and it’s a bit hard for me to believe that a $330k balance has built up to $500k, even with a year of missed payments.

Any suggestions on how to handle this?

The Living Trust handles this I believe for the taxible businesses. 

Hello BP Family,I just started managing my first investment property, and I cannot find the answer to how to handle holdover tenants and new tenant leases?

Hi, I'd like to start looking into some turnkey companies that specialise in residential properties nation-wide and preferably ones that handle everything.