Buying house and taking over the existing tenants

[Jorge Caceres]

Hey fellow BP fans!

I'm in the process of buying a house but have agreed to keep the existing tenants. I did some due diligence on them to make sure I wanted to do this. This is my first time taking over tenants. What should the process be?

I'm thinking I will have them sign a new lease starting the day I take ownership, with the same existing end date, and stipulate that this invalidates the prior lease agreement. What I'm not sure about is if I need something specific from the existing owner.

Thank you in advance for your answers