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If you buy a rental property? that already has tenants...?

 
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Farmbredgrainfedallnatura



Joined: 30 Jan 2005
Posts: 6

PostPosted: Fri Nov 25, 2005 1:45 am    Post subject: If you buy a rental property? that already has tenants...? Reply with quote

We are buying the home my husband grew up in. It was converted into apartments when his sister aquired the home. There are some problems with the home and we need to vacate the home to fix these problems, would the responsibility of removing the tenants fall upon my husband and I or would it be his siters responsibility? We are planning on returning it back into a one family home. There is no lease becuase the tenant is another sister who refuses to leave but can not buy the house herself. My husband and this sister (the tenant) do not get along.We live in Michigan. There has been no peace with the tenant sister, except when there is nothing we have that she wants. So buying this house will not be peacful at all. I know it will take time to fix the homes problems becuase we have to get an exterminator in there first (she brought in bed bugs from an old mattress she found at the side of the road) before we can even begin working on the house. She has destoryed the kitchen in her apartment as well as many walls. The only reason my husband and I are considering this house and are willing to put in the extra money is becuase it is his family home. Both the sister that owns it and my husband want to keep it in the family. There is no other renter and I am not even sure the sister that lives there has been paying any rent. My husband and I would be willing to help her move into an apartment that is income based, even find her furniture that wasn't infested. But she would have to pay for it herself.
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enoriverbend



Joined: 17 Apr 2004
Posts: 6

PostPosted: Mon Dec 19, 2005 10:33 am    Post subject: If you buy a rental property? that already has tenants...? Reply with quote

have your lawyer do it.
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Thomas



Joined: 15 Nov 2006
Posts: 4

PostPosted: Thu Jan 12, 2006 7:21 pm    Post subject: If you buy a rental property? that already has tenants...? Reply with quote

If there is a lease, you will be expected to fulfill the terms of the lease. Or when you take possession, you can begin the eviction process - which varies by area.Since it sounds like there is no lease, start the eviction as soon as you take possession. In most areas, you can evict in less than a week. Contact your local landlord/tenant assocation to find out how you need to give notice and boot her out.I received a scathing email from Bostonian to tell me that I am wrong. But I have some landlords that have told me that they have started and completed eviction procedures on tenants without a lease in less than a week. Since I put their houses for sale as vacant, I can attest that it is possible.The rules aren't hard and fast I suspect.
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niles9530



Joined: 23 Mar 2006
Posts: 5

PostPosted: Mon Feb 06, 2006 4:09 am    Post subject: If you buy a rental property? that already has tenants...? Reply with quote

If the tenants have a lease you MUST honor it; you don't have an option. If they do not, as soon as you take ownership of the house you can generally give them 30 days notice to quit. If they refuse to move at the end of the 30 days THEN you can start eviction proceedings.How long it will take to evict the tenants will depend upon state law and local procedures. I can guarantee that it will take you longer than a week as the "realtor" claims. She must not have any eviction experience. If the reason for the eviction is non-payment or a tenant trashing the property it typically takes 30 to 45 days to complete the eviction. If it's for any other reason, especially just a landlord wanting to re-take posession, plan on 60 to 90 days or longer to complete the process.Under the best of circumstances you should plan on it taking at least 90 days to get the tenant out -- the initial 30 days notice to quit and then 60 to complete the eviction through the courts.The seller can handle the eviction prior to the sale. Or you can do it after the sale. It's your choice, but the timeline will be the same.
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The-Office



Joined: 07 Nov 2005
Posts: 6

PostPosted: Thu Mar 02, 2006 12:57 pm    Post subject: If you buy a rental property? that already has tenants...? Reply with quote

With no lease she should be given a 30 day notice to vacate now. If she refuses and you have to go through eviction, that will take time and depending on how soon you are closing, the responsibility will be yours.
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iliketodreambig



Joined: 04 Jun 2002
Posts: 4

PostPosted: Sun Mar 26, 2006 9:45 pm    Post subject: If you buy a rental property? that already has tenants...? Reply with quote

Your question cannot be answered without mentioning what state you live in. Converting a home back into a single family is not as simple as beginning eviction proceedings and getting someone out in thirty days. Depending on where you live, proceedings may take over one year. That applies even if there is the so called "no lease". Technically speaking, it would still be a month-to-month oral lease and you may or may not be able to terminate if tenant is law abiding and wishes to continue the lease.
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JordanS



Joined: 18 Jul 2005
Posts: 6

PostPosted: Thu Apr 20, 2006 6:33 am    Post subject: If you buy a rental property? that already has tenants...? Reply with quote

Either you or your sister will have to evict the tenant. If you do not want to do the eviction have the sister do the eviction before you agree to purchase the home. Or you can do the eviction after you purchase the home. Either one of you would have the same laws behind you. There is no lease so the eviction should be pretty straight forward.Your other option would be for you and your sister who owns the house to sit down with the renting sister and offer to pay her moving expenses, first months rent and deposit if she agrees to move out. This is the way I would go for starters to keep peace in the family.
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