Existing Tenants
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Existing Tenants (by Kim C. [TN]) Sep 20, 2021 1:22 PM
       Existing Tenants (by Jason [VA]) Sep 20, 2021 1:39 PM
       Existing Tenants (by WMH [NC]) Sep 20, 2021 1:39 PM
       Existing Tenants (by Larry [MN]) Sep 20, 2021 2:08 PM
       Existing Tenants (by Vee [OH]) Sep 20, 2021 2:08 PM
       Existing Tenants (by Vee [OH]) Sep 20, 2021 2:11 PM
       Existing Tenants (by dino [CA]) Sep 20, 2021 2:16 PM
       Existing Tenants (by Roy [AL]) Sep 20, 2021 2:46 PM
       Existing Tenants (by myob [GA]) Sep 20, 2021 3:03 PM
       Existing Tenants (by Rosie [VA]) Sep 21, 2021 7:50 PM

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Existing Tenants (by Kim C. [TN]) Posted on: Sep 20, 2021 1:22 PM
Message:

We are in the process of purchasing a duplex that is empty on one side and has existing tenants in the other side. We would like to verify that the current renters are paying in full and on time. Does anyone have experience with this situation, and if so have you requested any type of documentation of payment?

--69.226.xxx.xxx




Existing Tenants (by Jason [VA]) Posted on: Sep 20, 2021 1:39 PM
Message:

Personally, I would make the sale contingent on both units being vacant. I want to screen my own tenants, not get stuck with a tenant that may have not been properly vetted. But If you request a proforma from the seller , that will have the rent roll included. --73.177.xxx.xx




Existing Tenants (by WMH [NC]) Posted on: Sep 20, 2021 1:39 PM
Message:

We won't generally buy a house with existing tenants anymore, but if we did we would want:

* Their original application (they can redact SSN if they are afraid of privacy issues.)

* Their latest lease.

* Ledger showing lease payments made.

* Documents, signed by both owner and tenants, regarding appliances and other things: who actually owns them?

* Ditto utilities: who pays? And the tenant and owner have to agree on that!

* Information on the Security Deposit, and an agreement that it will be transferred to the new owner (you) and not given back to the tenant (both legal.) --50.82.xxx.xxx




Existing Tenants (by Larry [MN]) Posted on: Sep 20, 2021 2:08 PM
Message:

If they are good paying tenants why would someone recommend to get rid of them? You should have no problem getting all the info you need from the current owner. Most importantly have the owner show proof of payment during Covid. --173.38.xxx.xx




Existing Tenants (by Vee [OH]) Posted on: Sep 20, 2021 2:08 PM
Message:

A lot of what you need to know in advance of presenting an offer is covered on a common real estate form called -esstopel- which should be notarized showing who owns appliances, pays what utilities, has what storage space (bsmt, attic or shed situations here), existing deposit on file, current rental amount with due day if periodic monthly rental, parking space - is a garage involved and of course the -pass or master- keys to the units. The lease and application paperwork is good but make sale subject to new (up 2 date) paperwork. --76.188.xxx.xxx




Existing Tenants (by Vee [OH]) Posted on: Sep 20, 2021 2:11 PM
Message:

I forgot existing damage payments is good to get because they may be making payments on a broken window, door or something like that which a good landlord or manager will never allow - took 30 minutes to damage and we allow 30 day to pay for - ask family to borrow money but not the owner/manager. --76.188.xxx.xxx




Existing Tenants (by dino [CA]) Posted on: Sep 20, 2021 2:16 PM
Message:

You want to get estoppel certificate signed by tenant from every existing tenant that addresses the relevant issues you would be concerned about.

Lease, rent, security deposit, appliance ownership, etc.

If I was able to I would prefer that it be notarized even if I had to pay notary fee.

--76.171.xxx.xxx




Existing Tenants (by Roy [AL]) Posted on: Sep 20, 2021 2:46 PM
Message:

The worst tenants of all time have been when I inherited tenants from a another LL. I agree with Jason, get them out and start with a clean slate with both units empty. --68.63.xxx.xxx




Existing Tenants (by myob [GA]) Posted on: Sep 20, 2021 3:03 PM
Message:

I don't sit on others toilet seats either! --99.103.xxx.xxx




Existing Tenants (by Rosie [VA]) Posted on: Sep 21, 2021 7:50 PM
Message:

MYOB - LOL! --73.148.x.xx



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