Updated about 4 years ago on .
Tenant lost bid (to me) on duplex they are currently in. Risks?
Question
Current tenant didn't get their offer accepted on a property I might purchase.
- What are the risks to having a current tenant remain in the property in this situation?
- What is the best way to handle the situation to minimize risk of damage to property, etc?
Situation
- Current tenants put in an offering an FHA loan
- Their offer wasn't accepted
- They are paying under market rent of $1,600 (market is ~$2,000)
- Their lease is up in April 2022
- Current lease must be honored
- Current least states they cannot move out until April 2022