All Forum Posts by: Luke Harris

thanks for the great info!

I recently purchased my first 4 plex and there are 4 tenants currently living there.  Two of the tenants are problematic, however the previous owner signed leases while were in escrow, and at a rate well below market(I'd prefer to cancel them).  But the copies of the leases I got are illegible and incomplete (1 of 3 pages) and the tenants don't have a copy of the lease.  Would it be reasonable to ask the tenants to sign a new M2M lease?  I will keep the rent amount the same and the new lease will supersede all previous leases.  I will inform the tenants that the new M2M lease is because I don't have a complete/legible copy of the lease and that I would like to establish the M2M lease so both tenant/landlord have a copy of the lease, and so that it will give maximum flexibility to both tenant/landlord.  With the new leases in place, my plan would be to evaluate the tenants, and likely non-renew the leases in the spring.