Updated almost 9 years ago on . Most recent reply
Purchasing Self-Storage Facility with Tenants
I am in the process of purchasing a self-storage facility that currently has tenants. Does anyone with similar experience have any recommendations for what I should do i.e., handling the assignment of rents from the seller to the buyer? I understand I should send a letter notifying the current tenants of the property transfer, but is the assignment of rent revenue handled mostly in the purchase contract between the seller and buyer? Any other suggestions when buying self-storage facilities?
Kindly.