When inheriting tenants during a purchase of a multi unit property do I need to wait until their current leases run out and then have them sign a new lease or can I just give them all new rental agreements (that I created) right away?
Thank you in advance!
you can try to get them into a new lease but they are under no obligation to sign a new lease until their lease is up.
In Louisiana you would have to wait until their lease contract is up.
A question I would add is would you push tenants to sign a new lease after theirs is up or go month to month? I have a property manager that insists they should sign a new 12 month or pay an up charge if they refuse.
@Mike Nguyen it would just go month to month