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Updated almost 7 years ago on . Most recent reply

Account Closed
  • Youngsville, LA
10
Votes |
74
Posts

Advice Needed : I'm taking over an Duplex with existing tenants

Account Closed
  • Youngsville, LA
Posted

Advice Needed: I'm taking over a duplex with existing tenants. I have a few questions. Hopefully, you all can help me out.

I have an offer on a duplex with existing tenants that’s going through the diligence period.

The landlord is going to provide leases and available rent rolls. Do you trust the info from the seller? e.g. Rent Rolls, etc. How did you verify the rent being paid?

Did you all bother with an estoppel agreement?

  • If so, how did you deliver it to the tenants? The seller mentioned that they shouldn't be bothered.
  • The seller mentioned in the addendum that he didn't provide any appliances and that any belongings in the property belong for the tenant.
  • What are some the best practices to transition the tenant from the old landlord to the new one? I'll be an out of town landlord so I want to make the transition smooth.

How did you deal with transitioning the rent collection?

I’d like to collect the rent online or through something like PayNearMe, but I doubt they're online savvy. I met them they're older. 

  • What's the best way to transition an existing tenant from paying it through the mail or through landlord pickups to something more convenient? 
  • What do you recommend/

Thanks for the feedback.

Most Popular Reply

Account Closed
  • Youngsville, LA
10
Votes |
74
Posts
Account Closed
  • Youngsville, LA
Replied

Thanks for the feedback@Nick C. @David J. and @Bjorn Ahlblad .

I should get the lease and rent rolls back from the seller in a few days.  The inspection should be down tomorrow. 

I'll reach out if there is anything that seems fishy. 

Appreciate it.

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