Rewiring triplex with tenants
I am closing on a triplex that I got a a discount because of work that it needs. The main one being it needs rewired. The wiring still works, it just there is no ground wire and the electric box is a fuse box. Also, id like for each floor to pay their own electric instead of including it in the rent like the previous owner.
I will be occupying the first floor but I am inheriting floor 2 and floor 3 tenants and would like to keep them.
My question is, tenants on floor 2 have a lot of stuff, they have been there for 10 years, and to rewire their apt. Almost everything needs to come out so the electricians can do their thing.
Is 2 weeks enough notice for something like that or play it safe with a full 30 days. Also, they should be able to stay there (with minimal belongings) while the work is being done, do I need to compensate them at all for inconvienance, it will take about a week to rewire everything.
Has anyone gone through a similar experience and how did you handle it? Any insight would be great as this is my first investment.