buying with tenants-rent collection transition?

[Mary Jay]

Hi guys,

sorry if its a stupid question...

Ive never bought anything with a tenant in it before, so not sure how to make a transition for the rent collection?

I am supposed to close on a property in the end of this month , so how do I get the rent on June 1st?

Should I ask the title company to have it withdrawn from the sales of the property ?

Or just hope that the seller will give me the rents he collected after the closing?

I cant probably send a note to tenants yet because the sale has not happened yet, right?

The closing was supposed to happen much earlier so I did not expect there would be so little time to get this rent collection transition going...

If you have any ideas on what is the process should be can you please share with me? Because I, myself, obviously not handling it properly...

[John Warren]

@Mary Jay you should receive a pro rated amount of the rents at the closing. If you close on the 1st of June, you should receive 100% of the COLLECTED rents. You would technically be owed the full months rent, but if the current owner doesn't collect anything then you would just go to the tenants with your hand out. If they don't pay within your state's time period/the time period defined by the current lease, begin eviction proceedings as necessary.