Purchased Building With No Record of Leases
Recently we purchased a 9 unit apartment building from the bank. The bank had very little documentation pertaining to the old leases for the current tenants. I didn't mind buying the property without the leases because we were getting such a good deal from the bank. However in our attempt to implement effective management and gain control over the building we are wanting to have our existing tenants all sign new leases and fill out informational applications. Any tips on how to compel or incentivize tenants to do so? Thank you.