All Forum Posts by: Jessica M.

Thank you for the advice, Greg. I was struggling on when/how to raise their rent, so I think right off the bat would be a good way. Let's just hope they aren't unhappy enough to trash the place if they leave! 

Thank you so much, @Steve Bracero!

Yes, the owner did not do anything by the book.  He was elderly and passed away last year so his wife is selling it now.  He owned the property since 1965 (which is maybe why he never had leases??)  Who knows!  His son is also a real estate attorney, which surprised me!

Thanks again for your response.

Hello!  I am in the process of buying a triplex that is 100% occupied.  None of the tenants had to put down a deposit or sign a lease (one tenant has been there 25+ years.)  Thanks to this site I found that we need the tenants to sign an Estoppel  agreement, but I'm afraid I may be missing something else.  I was also wondering if I am allowed to raise their rent and require a deposit since there are no current leases on file?  They are all paying well below market value for the rental units.

Thanks so much!!