What happens when a tenant comes with the house you just bought?
Miami Herald · Lew Sichelman ·
Buying a tenant-occupied house means inheriting the lease, deposit duties and showings. Learn buyer steps, tenant communication and handling deposits and damages.
Buying and selling houses is already difficult. But certain complications can make the process even knottier.
Case in point: buying or selling a house that is occupied by someone other than the owner, such as a tenant. It can be done, but it takes more effort and a whole lot of patience.
From the buyer’s perspective, they’re not only purchasing the house, but also the lease. Consequently, they should know exactly what’s in it: the rental amount, when it’s due, late fee amounts and when they take effect, the lease expiration date, etc.
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