Purchasing Duplex with current tenants
Hello everyone!
I’m super new here. I’m excited to learn more on rental properties from you all.
I have a quick question on a property that we are purchasing. The property has current tenants. One family has been there for 8 years and the other for 2 years. They don’t have a lease agreement. They go month to month. They want to stay and they know that the rent might increase.
I would like for them to stay but with a lease agreement in place. I’m thinking about requesting an application to run a background and credit check.
When do you think I should approach them? We don’t close until 12/22.
I appreciate your input.