Existing Tennant in potential duplex

1 Reply

First deal...

I'm interested in a duplex where the bottom unit is rented month to month. If I purchase the property, Im planning on running his info doing a credit and background check before signing a 12 month lease. He is wanting to stay so this may be a good option. Looked at the top unit and put in a 24 hour notice to look at the bottom (occupied unit) tomorrow. Is this a good way to go about this? If his background comes back negative, then I will give him 30 days notice.

Thanks!!!

Your only mistake is going to be putting him on a 12 month lease. To mitigate risk, you always leave inherited tenants on month to month leases.