Purchasing my first rental property- tenant question

[Doreen Hall]

Hi-

Wanted to ask if it’s typical to get a copy of current tenant leases prior to having offer accepted and going under contract?

I believe one of the units in the fourplex we are making offer on has several single men living there. They are currently rented far below market rates, and I doubt that a if the tenants are listed on the lease.

Thanks for your advice!

Doreen Hall

[Robert McAllister]

In Wisconsin, we use Addendum R to request the renter info; lease agreements, amounts, security deposits, and the seller has x number of days to get it to the buyer, and the buyer has x+2,3days to review and reject or renegotiate.