Inheriting tenants on a new purchase
I am closing on a three unit property in the coming weeks. Each of the units are currently occupied with longer term tenants (4+ years). I will be owner occupying this property and need to give notice to one of the tenants (I am actually planning on giving notice to two of the tenants, as I have a old tenant that was great who is looking for a bigger place). What is the best approach to giving notice to these tenants. Should I have them sign a new Month to Month agreement and then serve them the 30 day notice? Does anyone have guidance surrounding the first steps to take when purchasing a property that is currently occupied. Do you have the tenants go through your rental application and require them to purchase the background check/credit check?
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