Updated about 8 years ago on . Most recent reply
Quick question about inherited tenant
Hi guys, quick question. I have a townhouse under contact in Indianapolis IN and there is currently a tenant who is on a month to month lease. I was told after closing I would be given the contact information of the tenant so we could sign a new lease. So my question is, am I allowed to see/copy the current lease and use it again? And how long would I have after closing to get the new lease signed? Thanks for any help you can give!
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@Account Closed
There's no reason you can't see it now and you should. Don't rely on the sellers to tell you what the current terms of the lease are.
If the current tenants are MTM and you want to keep it that way then you really don't have to sign anything. Their MTM agreement would just keep rolling over. But signing a new one directly with you might not be a bad idea.
If you want them to sign a lease, I'd do it as soon as you can after closing. The tenants may not be interested in signing a lease. I'd be prepared for that.