I am considering making an offer on a single family home with a tenant already in place with a month-to-month lease. I would like to make sure the tenant is reasonably well-qualified and I would like to tie them up with a year lease. Does anyone have experience with this type of situation?
@Travis Salley , you can either ask that the property be delivered vacant or, once you take ownership, tell the tenant you want to put a year-long lease in place and they'll have to go through the approval process. If they don't pass, you can give notice as required by law and turn over the unit.
That being said, if they've been a good tenant up to now, why rock the boat? Turnover is expensive.
@Jaysen Medhurst thank you! No I rather not have turnover...