Multifamily prospect with 1 existing tenant
Hello All,
Wanted to get some opinions here on a situation I have on a current 3unit offer I have in. Quick run down, it is a 3 unit home with 2 units in the main building and the garage fully converted as a 3rd unit. Separate meter ect. Main building is vacant and there is a week-week no written lease tenant in the garage unit.
My original offer asked for the garage tenant to vacate as well in order to close. However, it is an estate sale(due to loss of father[owner]) and the tenant is a family friend so they do not want to be a part of his removal.
My original intent was to have a clean slate and no tenants. I do not know him nor is he my* family friend. My agent is recommending we still move foward acknowledging the week-week tenant as they don't want to know or be part of his removal. Once closed and owner, I give him the opportunity to either abide by a 12mo or longer lease with my business minimum requirements. Go through proper screening/application. If he doesn't meet said requirements, I have no obligation to his week-week basis and can give proper notice of not continuing and notice to vacate.
This is my first property and will openly admit I do not know the right answer; however, I do not feel emotionally attached to this property, I just know it's a great deal. I am looking for opinions on the situation and what you would do if you were in said situation. Hopefully I explained things detailed enough. Thanks in advance.