Buying a duplex with a tenant already in place

[Davin Manfredi]

Hi team,

I am closing on a duplex with a tenant already in place. Do I have to put them through another tenant application and have them sign my lease agreement, or do I just assume the already existing lease agreement and wait until the lease is up before I can put my lease terms in place?

[Alecia Loveless]

@Davin Manfredi Legally you have to honor the existing lease until it runs out. You might be able to get the inherited tenant to sign off on some new rules and regulations for the duration of their existing lease but I sincerely doubt anyone would agree to anything like a $300/month rent increase if they still have 6 months left on their lease at a lower rent amount.