Existing lease or create a new one?
Hello, I will be closing on my first single family rental in 6 weeks and this will be my first experience being a landlord.
The existing tenant has been there for 4 years and currently has a month to month with the existing owner. The tenant wants to stay and I would like her to as well. My question is, should I make up my own new lease and have her sign or do I just assume the lease that is already in place. Nothing would change in the contract except for my name being on it. The terms and conditions would remain the same. Also, is it necessary to do a background check or should I trust the words from the Seller? Thank you.