Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 4 years ago on . Most recent reply

User Stats

84
Posts
81
Votes
Jeremy Komer
  • Rental Property Investor
  • Cincinnati, OH
81
Votes |
84
Posts

Buying a property with expired leases

Jeremy Komer
  • Rental Property Investor
  • Cincinnati, OH
Posted

Hello Everyone,

Ran into a new situation, the place I am under contract for does not have current leases with the tenants.

They say they did not respond to the previous notices and thus the lease that expired in 2019 rolled into a month to month.

They are however paying the old amount not the current month to month amount ($100 gap)

The current manager has only been managing it for two weeks.

The analysis has some wiggle room but how to I appropriately Guage the risk here?

Should I just assume two evictions into the analysis and hope for the best?

The seller doesn't want to approach the tenants for new leases or an estoppel agreement which is rather strange.

Loading replies...