I am considering buying a property in Los Angeles in which several of the tenants are seriously delinquent on the rent (6 to 9 months). I want to be able to evict the tenants based on the delinquency with the seller. What is the best way to accomplish this? Can the sellers assign the delinquent rent to me or does that delinquent rent get wiped out upon a sale of the property? If the sellers can assign the delinquent rent to me, how should that be structured (eg, do they write me a letter stating that the rent is delinquent or some other way)? Any help/ thoughts would be greatly appreciated.
I would not buy the property until unless the previous owner gets them out first.
If you do buy it, plan on doing the evictions yourself, but you will not get any money from those tenants. Figure out what it is going to cost you for the evictions, lost rent, etc. and try to get a reduction on the purchase price of the property.
Thx @Brian R. it's less abt collecting that old rent. I want to make sure i can use the fact that it's owed as a basis for eviction. What type of documentation do you think I need to get from the seller to accomplish that?
My guess is that if you were to purchase the property, and then try to evict based on the fact that these tenants owned the previous owner money, it would not fly. It would be up to the previous owner to go after the tenants. You would have to wait until you own the property, and the the day comes that they owe you and don't pay before you could start anything. You could get a letter from the current owner saying tenant John Doe hasn't paid me rent for the months of February and March, but the judge more than likely wouldn't care about that.
This isn't legal advise, it it based on what I have been told by others in the past.
Get an assignment of rents that clearly states the property address, APN, name of the tenants months unpaid and amounts, and assigns those rents to the new owner.
You will need to research your local laws. Most jurisdictions do not allow carry forward of delinquency. You will need to wait till they are delinquent on rent owed to you as the new owner then begin the eviction process going forward.
Thx @Thomas S.
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