How Do You Get Tenants Out After Buying A Tenanted House?

One of the dangers of buying a tenanted house is the difficulty of getting the tenants out, if that is what you want. In fact, it might not be a straightforward affair depending on the prevailing circumstances. Here are some of the signs that mean you may be able to get the tenants out:

There Is an Existing Agreement To That Effect

Each tenant is expected to sign a rental lease agreement with their landlord before moving in the rental property. The lease agreement details all the agreements between the two parties. For example, a landlord may insert a clause to the effect that they expect the tenant to vacate the premises within a month if the property is sold. If the property you wish to buy has such a lease agreement in place, then you should have no qualms about the rental situation. As long as the lease agreement is valid, the tenant will have to abide by its terms.

It Is the Seller's Duty to Resolve the Issue

Buying a tenanted house should not be a problem if it is the seller's onus to get the tenant to vacate the property. Just make sure that any such agreement you may have with the seller is legally binding. For example, as a potential buyer, you can make your purchase contingent on the seller getting rid of the tenant by a certain date (say, before closing the sale). That way you don't have anything to lose if the seller doesn't hold their end of the bargain; you will get your earnest money back.

The Tenant Is On a Month-To-Month Lease

Lastly, you should also not shy away from a tenanted property if the current tenant is on a month-to-month lease. With a month-to-month lease, you don't have to worry about the tenant refusing to vacate the property once you buy it. You just have to wait for the end of the month and make your move; for example, you can decline to renew the lease or draw up a new lease agreement on your own terms if you were planning to use the property for rental income. The same reasoning can be applied to buying a tenanted house with a long lease that is approaching its end.

Fortunately, you don't have to face the prospects of getting tenants out of your newly acquired property alone. There are professionals, such as property management companies, that can handle the task for you at a small fee and in a legal manner.

Contact a local property management company for more info.

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About Me

Selling Your Home on the Local Market Hello, my name is Ben Hatten. Welcome to my website about selling your home on the real estate market. When I was ready to sell my home, I thought that the process would go smoothly from start to finish, so I did not acquire help from an agent. After learning about all the things that could go wrong, I decided to enlist the help of an agent to sell my home with assistance. I created this site to help everyone prepare for the process of selling their home with help from an agent. I hope you will come by often to learn more. Thanks.




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