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Updated about 7 years ago on . Most recent reply

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88
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55
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Michael Lee
  • Columbia, SC
55
Votes |
88
Posts

Is there a way to NOT inherit tenants?

Michael Lee
  • Columbia, SC
Posted

Hello -- I'm considering making an offer on a duplex with both units currently rented. I'd prefer not to inherit the tenants as I want to make some improvements, raise the rent, and put my own tenants in. What is the best approach to this other than writing it in the contract that the property be vacant at closing? Also, in general from the seller's perspective, what is the obligation to tenants who have a signed lease but you're wanting to sell the property? Thanks!

Most Popular Reply

User Stats

18
Posts
27
Votes
Robert Cheek
  • Saint Joseph, MI
27
Votes |
18
Posts
Robert Cheek
  • Saint Joseph, MI
Replied

I'm new to posting here but a long time investor/landlord. I don't understand why so many people are turned off with getting a property with the current tenants.  The truth be told, unless you are a very experienced landlord your tenant picks probably won't be any better than the sellers. As an experienced landlord I'll make the best out of the existing tenant knowing that eventually we'll part ways, but till that time I'm making all the money I can from you. 

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