Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
Followed Discussions Followed Categories Followed People Followed Locations
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 8 years ago on . Most recent reply

User Stats

8
Posts
2
Votes
Jill Clark
  • Investor
  • Bothell, WA
2
Votes |
8
Posts

Adding new tenant to month to month agreement

Jill Clark
  • Investor
  • Bothell, WA
Posted

Hello!

I purchased a 4 plex over a year ago and inherited three tenants who's residency  ranges from 3 years to 26 years. Besides the occasional whine and whimper, they've been good. 

One unit that includes a mom and adult daughter on a month to month agreement is looking to remove the adult daughter from the agreement and add a new tenant (the mothers boyfriend). Besides the obvious (running all checks on the boyfriend, having the adult daughter give proper written 'notice' and signing a new month to month agreement) I'm curious how to handle the deposit - in our purchase of the property we were transferred the deposits but not provided any detail of which tenant paid what. Does/should the deposit stay with the unit? Is it worth refunding the deposit to both the mother and daughter, then require a new deposit? Is there another and better option that I'm not exploring? 

Any and all suggestions from someone who has seen a similar situation is greatly appreciated. 

Loading replies...