I'm closing on a Triplex in the East Bay. All three units are rented out. However, the tenants in one of the units have not paid rent for the last two months and the current owner has served an eviction notice prior to the transaction with a move-out deadline in three weeks.
My question is, as I take over the property, how should I ensure this eviction goes smoothly? I'm getting a copy of tenant leases (might not even be available) and a copy of the eviction notice to make sure I have all the documentation if further action is needed, any advice on things I should watch out for?
Thanks in advance for any insight,
you probably won't need it, but ask the current owner to assign his rights to evict in writing. It's possible that your new tenant could object that the person filing the eviction (you), isn’t the original person who gave notice (original owner ). Tenants know more about landlord tenant laws than we do.
I would make sure that the time lines are in order and most important talk to the tenant and offer them some help in moving out.
We are in a similar situation, and are waiting for the eviction to be complete before closing. My realtor said we could do that, or wait until we close and start over with the process once they aren't paying us. I am not happy about delaying the closing but that seems like a better choice than going through the eviction process later.
Thanks, all, for the advice. I like @Tony Christian 's suggestion of asking in writing for the rights to evict be transferred to me once the transaction closes.
@Kelly N. how long will your wait be?
Get a good attorney and let them handle it.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Join the Largest Real Estate Investing Community
Basic membership is free, forever.