Updated over 10 years ago on . Most recent reply
Tenants rights, No written lease
Hello Bigger Pockets!! This is my first post and I am new to Real Estate investing!! I'm looking to get started in buy and hold multi-family rentals.
I live in Kentucky and a duplex just came onto the market in my area that I'm interested in. In the remarks it states, "Property for sale with subject to tenants rights. Tenants do not have a written lease. Currently rented for $250.00 each side."
The property obviously needs a make over and the rent is far too low for me. If I were to purchase it I would want to go in an renovate it and raise the appreciation and the rent.
What are my rights as a landlord in this situation?