Rental house in disrepair with tenants

[Bill Robinson]

I have a general question about rental property in disrepair.  My parents have a rental house that has some major floor rot problems.  The house is on peer and beam, not a concrete slab. The tenants have been in the house for two years.  The rot started about 1 year ago.  The rot is so bad that the tenants cannot use one room.  I looked at it today and it is bad enough that a person could fall through. The tenants do not want to move out.  My parents do not have the money to do all of the necessary repairs.  Can my parents request the tenants to move and if they want to stay can they have the tenants sign something relieving them of liability?   Any advice would be very much appreciated.  

[Matthew Crivelli]

Why not sell the house? Let someone else deal with it. If the tenants are not on a long term lease give them notice to vacate. How much is the house worth? If its owned free and clear you could also refi or take a HELOC out to fix it up. I think you have some options here.