 Privacy question (by CJ [MO]) Jul 12, 2019 6:35 PM
 Privacy question (by NE [PA]) Jul 12, 2019 6:41 PM
Privacy question (by Robert J [CA]) Jul 12, 2019 6:45 PM
Privacy question (by CJ [MO]) Jul 12, 2019 7:07 PM
Privacy question (by NE [PA]) Jul 12, 2019 7:16 PM
Privacy question (by CJ [MO]) Jul 12, 2019 7:29 PM
Privacy question (by NE [PA]) Jul 12, 2019 9:15 PM
Privacy question (by DJ [VA]) Jul 12, 2019 10:10 PM
Privacy question (by Still Learning [NH]) Jul 13, 2019 9:35 AM
Privacy question (by Vee [OH]) Jul 13, 2019 9:50 AM
Privacy question (by Oregon Woodsmoke [ID]) Jul 13, 2019 10:33 AM
Privacy question (by razorback_tim [AR]) Jul 13, 2019 12:01 PM
Privacy question (by CJ [MO]) Jul 13, 2019 12:01 PM
Privacy question (by CJ [MO]) Posted on: Jul 12, 2019 6:35 PM
Message:
Can the buyer ask for tenant apllication from the seller? Is privacy excuse for not giving buyer tenant information?
Thanks
--97.91.xxx.xxx |
Privacy question (by NE [PA]) Posted on: Jul 12, 2019 6:41 PM
Message:
I'd give the lease at closing but not the application. But they can certainly ASK. --97.35.x.xxx |
Privacy question (by Robert J [CA]) Posted on: Jul 12, 2019 6:45 PM
Message:
I buyer can demand all books and records, even applications. Tenants credit reports are sometimes private, that's a whole other issue.
If you buy the property and they try to get the tenant of provide you with personal information, they can refuse.
You should have the listing agent have each tenant sign an estoppel asking:
Current rent, deposit held by owner, when the rent is due, appliances owned by tenant and other property in the unit that the tenant has claims too (blinds, lights, etc). --47.156.xx.xx |
Privacy question (by CJ [MO]) Posted on: Jul 12, 2019 7:07 PM
Message:
The seller agent: "According to XX state law we cannot provide you with private information regarding a tenant such as SS#, Drivers license, etc.".
I thought ehe new owner should have the same right for tenant information as the prior owner unless the tenant move out. --97.91.xxx.xxx |
Privacy question (by NE [PA]) Posted on: Jul 12, 2019 7:16 PM
Message:
Are you buying or selling? --50.107.xxx.xx |
Privacy question (by CJ [MO]) Posted on: Jul 12, 2019 7:29 PM
Message:
NE, I am buyer. --97.91.xxx.xxx |
Privacy question (by NE [PA]) Posted on: Jul 12, 2019 9:15 PM
Message:
Count your blessings on getting whatever you can. I wouldn't imagine too many landlords out there are very organized at all. --50.107.xxx.xx |
Privacy question (by DJ [VA]) Posted on: Jul 12, 2019 10:10 PM
Message:
I agree with you, CJ. As a professional property manager, you have every right to all the information about a tenant that the current landlord has (in my opinion - don't know MO law). You are vetted and know how to safeguard it. The seller's agent has no clue. I would also insist on seeing the rental agreement as part of your due diligence, too. Otherwise, you have no idea what you are committing yourself to abide by - you do need to honor the agreement currently in place.
When I bought an occupied home, the tenants filled out my application - "just so I have information for your file, or for an emergency - no worry about being qualified again - your payment history shows that".
But they could have refused. It would be awfully hard to manage properly without this information.
--68.10.xxx.x |
Privacy question (by Still Learning [NH]) Posted on: Jul 13, 2019 9:35 AM
Message:
The two buildings we bought came with varied paperwork from owners. The first time, I was given applications and leases but no security deposits because they had been told to use them as rent the previous month. 3 groups stayed and I kept them on the old leases. When we bought the second building I had a better idea of what I was doing. I got leases and security deposits but no applications and even though rent being paid would constitute an agreement of sorts there wasn’t a fully executed lease in the bunch. Dates, signatures, apartment numbers... at least one item was missing on every lease. There were animals, drugs, etc so I met with each group gave them my lease (application is imbedded in my lease) and a notice of intent to vacate and said I would be in touch after the weekend to schedule a lease signing (no pets, no smoking, no drugs clearly spelled out) or pick up their intent to vacate form. I worked with those I wanted out. I told them pay rent on time, but if you find an apartment with a mid month move in, I will reimburse you for any unused rent days. It was all spelled out on the intent to vacate. I would be renovating anyway so timing didn’t matter. Making it easy for them to leave helped. In the end, they left or I had all their information. --24.61.xxx.xx |
Privacy question (by Vee [OH]) Posted on: Jul 13, 2019 9:50 AM
Message:
Just use the estoppel to get the info you need and if the tenant wants to stay you need your info. --76.188.xxx.xx |
Privacy question (by Oregon Woodsmoke [ID]) Posted on: Jul 13, 2019 10:33 AM
Message:
The lease gets handed over to the buyer at closing. I would expect a buyer to want to see the lease before committing to purchase.
My application has the personal information I need to run the credit report on a separate page. I wouldn't turn that over but the actual application could be turned over at closing. --98.146.xxx.xxx |
Privacy question (by razorback_tim [AR]) Posted on: Jul 13, 2019 12:01 PM
Message:
The buyer will need this info in the event collections from the tenant is required after move-out. Seems that this should go with the property just like the lease. --70.178.x.xx |
Privacy question (by CJ [MO]) Posted on: Jul 13, 2019 12:01 PM
Message:
Vee, How do I do the stoppel letter? I make the form ask any question I want? Do I give it to the tenant or the seller give it to tenant to sign? --97.91.xxx.xxx |
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