Transfer to llc, inheriting tenants
My husband and I are just purchasing our first rental property - a 2 family home in connecticut. We are inheriting 2 tenants, 1 of whom is on section 8. My husband, who is a realtor, will be managing this property.
- any advise on managing tenants on section 8?
- We are obtaining a residential loan and plan to transfer to our new llc. Any input on this process would also be highly appreciated. We have an accountant and lawyer and are also see Iking guidance. Lender ok with transfer to llc. We have read process requires quit claim after property is registered under personal name, then transfer to llc.
- Leases for both tenants are expiring/already expired and now has automatically converted to month to month lease. Do you recommend going through the entire process of tenant screening, application, background/income/credit score check and new lease signing for 1 year?
- How best to automate monthly rent payments?