Updated over 1 year ago on . Most recent reply
Purchasing with Tenants
I'm looking to purchase a 3-family that is fully occupied. What is the process for the estoppel agreement, switching the leases into our name, not the previous owner, changing the rent payments to go to our account and not the previous owner?
One tenant is in a conservatorship, another is section 8, I assume that is pretty straightforward to convert to us as a new owner?
All rents are below market value and we think we can get another $2-300/unit on 2/3 units. How have any of you handled this before as new owners?
Lastly, one tenant is a headache and we are wondering about offering cash for keys. Has anyone done this easily as a new owner?