Under Contract on Occupied Duplex
Hey BP forums!
I am under contract on my first home. Super pumped about this deal!!! It is a fully occupied duplex in Puyallup WA. Both units are in great shape and severely under market rents. I need to owner occupy, and raise rent in the other unit, or vacate both units and re-rent the other to new tenants. I am open to living in either side.
I am having trouble finding specific laws for this are on notice to vacate. The sellers gave both units notice of sale and stated they may have to leave depending on new owner over 90 days ago.
I want to be as reasonable as possible and give both units time to move out (60 to 90 days) and let both pay their current rents until then the time being.
Wondering if anyone has had a similar situation. Hopefully everything goes smooth but just want to make sure I am covering my basis in case they give me a hard time and make sure I do everything by the book.
@Kyle Hendricks, you will need all what you need on the RHAWA website https://www.rhawa.org/covid-19
Hey kyle, in my opinion rather than trying to figure this out yourself I would ask a good property manager in your area about the specifics of your situation and state rental laws. Or if you know somebody else in the area that owns a few properties they will likely know or know somebody who does as well. These things can get tricky with how much notice you must give and how it has to be delivered etc, but having a good relationship with these tenants by giving them the extra time you mentioned and trying to be firm yet fair should go a long ways as well! Good luck and I hope it works out.
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Real Estate Agent New Hampshire (#075051) and Massachusetts (#9567686)
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#4 House Hacking Contributor
- CPA, Real Estate Broker & Investor
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#4 House Hacking Contributor
- CPA, Real Estate Broker & Investor
- Seattle & Woodinville, WA
Congrats Kyle!
Aside from an attorney and local PM, I'd suggest getting to know www.rhawa.org.
It is a wealth of information and has fantastic legal forms.
That’s amazing congrats on your first duplex 🥳 I’ve actually just started looking in that area because I have some family that lives there. Did you work with a real estate agent or do you have any recommendations for resources that were helpful?
Quote from @Katie Bustos:
That’s amazing congrats on your first duplex 🥳 I’ve actually just started looking in that area because I have some family that lives there. Did you work with a real estate agent or do you have any recommendations for resources that were helpful?
Thanks Katie! I did work with an agent, I am a lender so I have worked several deals with her and she is an investor as well. She is awesome!
Her name is Bailey Berryhill. Shoot me a call or text and happy to connect you guys. :)
Quote from @Julien Jeannot:
Congrats Kyle!
Aside from an attorney and local PM, I'd suggest getting to know www.rhawa.org.
It is a wealth of information and has fantastic legal forms.
Thanks Julien!
Quote from @Sherief Elbassuoni:
@Kyle Hendricks, you will need all what you need on the RHAWA website https://www.rhawa.org/covid-19
Thanks Sherief!
Quote from @Christian Ehlers:
Hey kyle, in my opinion rather than trying to figure this out yourself I would ask a good property manager in your area about the specifics of your situation and state rental laws. Or if you know somebody else in the area that owns a few properties they will likely know or know somebody who does as well. These things can get tricky with how much notice you must give and how it has to be delivered etc, but having a good relationship with these tenants by giving them the extra time you mentioned and trying to be firm yet fair should go a long ways as well! Good luck and I hope it works out.
Thanks Christian. :)
Hi Kyle, sounds like a heck of a deal!
Absolutely look at your local landlord-tenant laws. Last thing you want to do is something that is not legally acceptable and create a bigger problem for yourself.
For example, where I own property in Chicago, for every year that a tenant has lived in a unit, they are owned 30 extra days to vacate. I believe it maxes out to 120 days to vacate for a tenant who has been in there 4+ years.
Wish you the best and way to get in the game.