Rental Property Investor · Westerly, RI · Member since 2017 · 9 posts · 4 votes
Happy Monday BP,
I purchased a 3 family last August in Westerly Rhode Island which I inherited 2 tenants off of. Each of the leases that I took over have been fulfilled and have moved to month to month. I would like to keep them month to month but get them on my lease.
Is it as simple as filling out the new lease as a month long contract and the new lease rules are in place? Anything I'm not thinking of?
I purchased a 3 family last August in Westerly Rhode Island which I inherited 2 tenants off of. Each of the leases that I took over have been fulfilled and have moved to month to month. I would like to keep them month to month but get them on my lease.
Is it as simple as filling out the new lease as a month long contract and the new lease rules are in place? Anything I'm not thinking of?
Thanks,
More or less yes. Just tell them you want them to sign a new month to month lease, most tenants oblige with this request. If it becomes an issue & they won't sign you can serve them with a 30 day notice if you want to take it that far.
Rental Property Investor · MN · Member since 2017 · 864 posts · 555 votes
7y
@Greg Dowdell If their current leases have expired and you want to get them to move onto your lease agreements, they either have to do so, or move out.
Rental Property Investor · Davenport, FL · Member since 2013 · 285 posts · 220 votes
7y
Yes, have them sign your lease and make the terms month to month, go over the details of your new lease with them for anything that may differ from their previous (grace period, late fee, acceptable method of payment, etc.).
Buy and Hold Investor · Cranston, RI · Member since 2013 · 1k+ posts · 1k+ votes
7y
@Greg Dowdell yes, it's that simple. It's probably unnecessary, but I would also say you could put something in the new lease stating that any existing rental agreements with current or prior owners are explicitly terminated with this new agreement.
Rental Property Investor · Sacramento, CA · Member since 2015 · 1k+ posts · 893 votes
7y
@Greg Dowdell you've got it right. Just take your lease paperwork and make the term 30 days. Ensure the lease has some language that says these terms will survive the completion of this lease on a month to month basis unless a new lease agreement is commenced. Easy enough!
I purchased a 3 family last August in Westerly Rhode Island which I inherited 2 tenants off of. Each of the leases that I took over have been fulfilled and have moved to month to month. I would like to keep them month to month but get them on my lease.
Is it as simple as filling out the new lease as a month long contract and the new lease rules are in place? Anything I'm not thinking of?
Thanks,
More or less yes. Just tell them you want them to sign a new month to month lease, most tenants oblige with this request. If it becomes an issue & they won't sign you can serve them with a 30 day notice if you want to take it that far.
Rental Property Investor · Durham, NC · Member since 2016 · 7k+ posts · 7k+ votes
7y
@James Wise I used to want long term leases but now I like having month to month leases. Doesn’t matter what your lease says, tenants will do what they want.
Rental Property Investor · Asheville, NC · Member since 2017 · 44 posts · 49 votes
7y
@Greg Dowdell usually if you come in and say your the new landlord and ask if they will read over the new lease they will sign because they want to stay living there. As long as you don’t throw in anything that’s restricting to their current lifestyle they will sign.
@James Wise I used to want long term leases but now I like having month to month leases. Doesn’t matter what your lease says, tenants will do what they want.