All Forum Posts by: Dylan Mortman

@Greg Kasmer thanks! The transfer of the security deposit was definitely something I was nervous about. Really appreciate you sharing your wisdom!

@Robert Masucci thanks! Really appreciate the clarification. They signed a 1 year lease, and I was advised that I can't see the full lease agreement until I'm under contract... should be submitting our bid this week though, so fingers crossed. 

We are in the process of buying our first investment property, it is a 3 unit, and all the tenants just signed a new lease prior to us (hopefully) closing on the property. However all 3 of the units are being rented below market and should definitely be increased.

What is the lease transfer process? Am I as the new landlord stuck with their current lease? Can I update it to add additional language to further protect my self? And most importantly can I increase their rent?

Any info would be greatly appreciated. (this is my first time ever posting on here! so thanks for the support!)