Updated almost 6 years ago on . Most recent reply
New lease for inherited tenants
I will be closing on a duplex in December. I have inherited tenants with no leases. How should I start the process without scaring off the tenants. They pay about avg Rent they take dissent care off their units. I will be making upgrades and want to protect my asset. I do not know if it fair to have them pay a deposit for a new lease. Any suggestions would help. Thanks James
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- Real Estate Broker
- Cody, WY
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Yes, they should sign a new lease. It should be a lease you are familiar with and that addresses your concerns.
Yes, they should be required to pay a deposit. If they do not have one, make them pay one (in full) on the day they sign the lease. If they refuse, they should move out so you can find a tenant that will pay.
- Nathan Gesner
