Fake tenancy to make a property look profitable
Hello!
I was recently searching on Zillow for multifamily units to buy-and-hold in the midwest.
I often agents stating "currently occupied" or similar. Has anyone ever experienced buying a property hoping to keep the tenants and suddenly everyone moving out? Is it possible to fake having tenants in your property? (not making them pay the real rent advertised for example)
This is an odd one but I am in the process of buying my first multifamily property and I thought I would ask you fine people :)
Generally speaking, is it a good idea to try to keep the current tenants to reduce vacancy?
Most Popular Reply
Always ask to see copies or the leases but of coarse in your scenerio they could go as far as to fake them. What I found is in most cases if the tenants get wind of a recent sale they feel as if they will be kicked ou and bale or are afraid of rent increases coming.
I could just be bad luck. Have you tried talking to any of the tenants?