Tenant 'Control' of Property Beyond Residence
Leaning towards making an offer on several acres that is mostly wooded with a small house in corner of lot. House has a tenant reportedly on month-to-month (yes, I will confirm before purchase). I plan to eventually develop the property (mini-storage) and like the idea of having a tenant in place to defer mortgage cost while I put development plan in action (1-2 yrs).
Tenant could even become watchkeeper/caretaker in future as far as I'm concerned, if interested/qualified.
HOWEVER -- does the tenant normally have rights to the entire property (lot)? This is SFR (single family residence, currently zoned county residential but can and will be rezoned commercial). I would discuss this with tenant prior to offer to purchase, and would probably get an estoppel from them, but am curious if tenant would have any legal action if I develop the property (clearing, grading, fencing, etc) that is not in close proximity (say, 100') of the house that they are renting?
Should I lay out boundries of proposed future development in tenant estoppel as part of the purchase process?
Thanks. Great site!
Mark in Kentucky (former R.E. agent in Nevada)