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McKinsey Alston
  • Investor
  • Somers Point NJ
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New Landlord with existing leases

McKinsey Alston
  • Investor
  • Somers Point NJ
Posted

I am in the process of purchasing a duplex with an additional apartment on the property. Currently, the owner lives in the top unit and has the bottom unit of the duplex and the backyard apartment rented out. Both are on lease until 2021. Since I did not personally screen the tenants, what should Or can I ask the current owner about the tenants? Also, I have my niece and nephew that stay with us and want to ensure they’re safety. The property is in New Jersey. Any thoughts?

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Frank Chin
  • Investor
  • Bayside, NY
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Frank Chin
  • Investor
  • Bayside, NY
Replied

Landlord tenant laws in most jurisdictions require you to honor existing leases. Before closing you should obtain estoppel letters, and assignment of the lease at closing.

But you can ask for additional info on the tenant, i.e. applications, credit checks, but in most instances, you can't kick them out. The only exception is he's in the sex offender registry and didn't disclose it in the application. Your only action is not to renew the lease and have your nephews and nieces visit afterwards. 

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