New duplex with inherited tenant

[Payne Roberts]

Hello all! 

First ever post!

TL;DR First house hack, inherited tenant has the most adorable kind pit bull and a cat. Weighing out options as I get nearer to close.

I apologize for the big post. I just bought my first duplex in Central New York. I’ve been doing research for awhile now and needed to finally take action. I plan to occupy the lower unit, while the upper is occupied by a long term (2+yr) tenant. The current lease agreement with the seller is MTM, I have some freedom here. My original plan is to go through the process as if she were applying for the apartment (credit, background, employer and previous ref…) I’ve done some preliminary due diligence in the buying process. She has a very kind, and sweet pit bull  and a cat. She seems to keep her home in decent shape. I have some background on her occupation in the service industry. My initial thought is to have her fill out the proper application paperwork and sit down with her to communicate the transition. The off street parking/small garage really only accommodates one unit, I had the idea of charging for off street “priority” parking and if she doesn’t want to include this, my SO and I will use the driveway. She is currently paying $950 on a MTM lease. I plan to offer her a mtm lease for 3 months, as to give us a grace/trial period and save me from having a lease start/end in January in upstate NY

any thoughts and recommendations are appreciated! 

[Wesley W.]

Quote from @Ishmael Johnson:

So even with an inherited tenant situation, a landlord should still do a background check?

Absolutely.  You need to know who is sharing a roof with you.

Payne - I'm happy to connect with you if you have specific questions about your situation in Upstate NY as well as processes/systems to put in place as you begin your career as a landlord.  I have acquired several occupied buildings, so I'm happy to be a resource for you through that process if desired.  Feel free to reach out if you'd like.