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General Landlording & Rental Properties

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Wendy Noble
  • Investor
  • Sunnyside, NY
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355
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Inheriting a tenant - tell me what you think?

Wendy Noble
  • Investor
  • Sunnyside, NY
Posted Aug 20 2014, 20:08

So I'm seriously considering putting an offer on a 1b/1b rental unit. The unit is in great condition, the location is awesome, the numbers check out. The unit already has a tenant in (tenant moved in almost 2 months ago and has a one year lease) and is paying market related rent. If I bought the place I would be taking over the lease. I am doing due diligence and have requested her lease agreement, a report on her tenant application.

The one weird thing: She moved in 6 weeks ago, the place is clean, she presents herself well. But the place is almost empty. A mattress on the floor, boxes of clothes and personal belongings in the corner but no other furniture. Now I remember not having a lot of furniture when I rented my first apartment age 22 but this lady is probably closer to 40 and can seemingly afford to live in an apartment in an "A/B" neighborhood.

Any thoughts? What does your spidey sense tell you?

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