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My questions maybe a repeat but I am not able to access the search feature right now.

If I purchase a property and it is currently rented out, but not at market rates, do I have to wait until the property comes back up for renewal in order to raise rents?

Also once a new property is purchased would I be able to run history checks on the current tenants and if they do not meet my qualifications, criminal past, credit issues, things like these, I am required to honor the current agreement? 

Again I am new so please excuse my ignorance. 

Thanks

yes @Andrew Emery  in most states if you close on property and the tenants are still there you have to honor the lease 

contact a lawyer for the correct answer for your area

Originally posted by @Andrew Emery :

My questions maybe a repeat but I am not able to access the search feature right now.

If I purchase a property and it is currently rented out, but not at market rates, do I have to wait until the property comes back up for renewal in order to raise rents?

Also once a new property is purchased would I be able to run history checks on the current tenants and if they do not meet my qualifications, criminal past, credit issues, things like these, I am required to honor the current agreement? 

Again I am new so please excuse my ignorance. 

Thanks

Andrew:

In most locations and instances, you are obligated to honour the leases you inherit with the property.   In some jurisdictions you are able to demand "vacant possession" of a property or individual rental unit under certain conditions (i.e. you or an immediate family member are to inhabit the unit, the building is going to be demolished, the building/unit will undergo a substantial renovation which necessitates it being empty, etc).

The answer to your second question will depend upon location.  Here, and I would imagine in most places, you would require the written consent of the tenant to run a credit history or background check on them,.

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