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Mandi DeGroot
  • Grand Rapids, MI
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Taking over a duplex with current tenants set in a lease

Mandi DeGroot
  • Grand Rapids, MI
Posted

I am currently looking for my first multi-family property to house hack.  A lot of the places I have been looking at have tenants in them.  One for example had a tenant lease going through 2022.  When I buy a property, do I have to honor the current lease, the lease price (a lot have had long term tenants to the rent is not comparable to other rentals in the area and needs to be raised) and any other information/insight anyone can offer in this area would be appreciated.  Thank you.  

Mandi 

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