Closing on a deal, want to remodel but have a tenant

[Alexander Johnson]

My wife and I are about to close on our first investment property. We are doing a house hack and want to remodel the side we are not living in at first from floor up.

The tenant that is living there is on a month to month lease under the current landlord. My wife and I will not be doing month to month leases either 6mo/1yr leases.

How are we able to get in there and remodel the tenants unit if they do decide to sign our lease and stay another year?

Do we have to wait until that year is up to remodel?

Can we firmly “demand” we are doing a remodel once we close on the deal?

[Nathan Gesner]

I don't understand why you want to lock them into a longer term if your real goal is to go in and renovate? It's very difficult to renovate with an occupied rental. 

I would keep ask them to sign a 120-day extension, keeping the rental secure through winter. Let them know you need the unit vacant at that point for renovation. Complete the renovation and then find a one-year renter at a time when the market is heating up.