Inheriting month-to-month renter without written contract

[Michael Ulrich]

I have a property under contract and will be inheriting a tenant that has lived in this house for 10 years, and pays consistently via direct deposit. However the previous owner did not have any written lease agreement in place.  I'm curious how other BP landlords would advise handling this situation...  I want to make it as seamless as possible - especially during Covid era.  Do I make the tenant sign a month-to-month lease agreement?  Or do I simply cover the basics in the "New Landlord letter" and hope for the best?  I'd love some feedback! :-)

[Nathan Gesner]

If the tenant has been there for 10 years, there's a very good chance the rent is below market and the tenant feels entitled. I would definitely put them under a lease and let them know how you intend to operate. It doesn't really matter if it's M2M or annual as long as expectations are in writing.