Rental Property Investor · Costa Mesa, CA · Member since 2018 · 10 posts · 7 votes
BP,
I’m in currently in escrow on my first duplex. Currently the property is managed by the renter who is the brother of the seller. Both tennnents have an existing lease. Since I live out of state I will be hiring a management company.
Since the tenants are still under their existing lease will I need to let the existing lease expire before the management company executes a new lease?
Thanks,
Rigo
Real Estate Agent · Denton, TX · Member since 2016 · 75 posts · 54 votes
8y
Hi Rodrigo,
Congrats on the new duplex. Yes, you will have to wait until either the tenants have completed their lease. Regardless of whether or not the property sells to a new owner, the tenants have the right to continue with the lease as is unless they violate the lease.