Buying Property with Existing Tenant - New Lease?

[Austin Barton]

I am about to close on a property where the tenant has an active lease with the former owner until August. Do I need to get the tenant to sign a new lease with me as soon as I close? Or just honor the current lease?

I am not going to raise the rent on them, and I could have the new lease end in August with all the same terms, right?