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His goal isn't to be a landlord, but to get rid of the tenants currently living in the home he is buying. And yes, he is in for a world of hurt if he thinks he can do the things he thinks he can do (change locks, kick ppl out, lock them from common areas etc..)
He is actually doing what I'm doing. Buy a duplex. Live in one unit and rent out the other one. He is 100% planning on getting into the land-lording business.
Do the right thing and buy them out if you can. Tenants have a right to live in a property in accordance with their lease. You can't just "kick them out" of their home. That's reprehensible. You bought a "leased fee interest" in the property. In other words, you screwed up if you think you can just get them out because it's yours.
He is actually doing what I'm doing. Buy a duplex. Live in one unit and rent out the other one. He is 100% planning on getting into the land-lording business.
I guess I read it wrong..I read that he's buying this duplex and wants all the tenant out so he can move in. Either way, he has a lot to learn.
All the other comments here are generally correct. You can't revoke privileges they currently have (like access to the basement), and you can't kick them out since they have a lease, so if you continue with the sale you must offer to buy one of the tenants out or see if the seller will buy one of them out. I would recommend having the seller do it, otherwise you will be in a real tight spot if you try to get one to move out and they refuse, or they agree but then delay and you have to try to evict them - if you don't move in within 60 days (per your other thread), you could get accused of mortgage fraud, and you don't want to be anywhere near that.
Sounds like you're jumping into a business that you know absolutely nothing about - that typically doesn't end well. You need to read up on your state landlord tenant law, and any applicable local laws. Find forums online for landlords to learn more, join a state or local landlord association. You can't buy this place thinking you're God and telling tenants what they can or can't do, it doesn't work that way.
First off thank you everyone on this forum, you helped me a lot with my previous question
So looks like in order to purchase the duplex we want to buy we will need to move in within 60 days. Problem is, both units are rented out. How do I go about removing one of the tenants so that we can move in?
Also, there is a upper and lower unit. We want to move into the lower unit. The basement is a common area with a washer and dryer right now, we would make it so only we can use the basement. Is there any legalities to doing that besides changing the locks?
Really? Contact a lawyer to get advise since what you describe is distrubing to me since you mention "kick out" in your main thread and that is not very nice to people who pay rent and have their place of living and you have no right to "kick" them out.
They will "kick" you into the court room.
You need a lawyer since you have no clue about what you want to do...is very illegal!
I don't understand how you got financed. In some states you are not allowed to buy a rental property on a single family home loan. I know in NV that was the case for us. We fell in love with a house to find out it was an investment property so we where not allowed to live in it, it was meant to be rented out only.
I'm guessing the OP is in for a big surprise when he's stuck with 2 tenants and no home to line in.
We have to get it as a primary residence loan, so yes that is what we are doing. Both places have a lease, one for six months the other for a year.
Since I didn't sign the lease, the previous owner did, do I still have to honer the lease?
Absolutely, you do still have to honor the lease. Their rights under the lease superseed your rights as the property owner. You knew the property had tenants when you bought it, you are legally bound to honor those leases and obey all landlord tenant laws for your state. You had better read up on them, you can find links to most of them in the "State landlord - tenant laws" sticky thread at the top of this forum.
First off thank you everyone on this forum, you helped me a lot with my previous question
So looks like in order to purchase the duplex we want to buy we will need to move in within 60 days. Problem is, both units are rented out. How do I go about removing one of the tenants so that we can move in?
Also, there is a upper and lower unit. We want to move into the lower unit. The basement is a common area with a washer and dryer right now, we would make it so only we can use the basement. Is there any legalities to doing that besides changing the locks?
you cannot afford to buy this property if you can't wait to the lease is up.
We have to get it as a primary residence loan, so yes that is what we are doing. Both places have a lease, one for six months the other for a year.
Since I didn't sign the lease, the previous owner did, do I still have to honer the lease?
If you don't already have an attorney, you need one now. NOW, not tomorrow. And hopefully before you sign the P&S.
You can structure the P&S so that the current owner has the responsibility for making one of the units available and your purchase is subject to that event. It may not happen for 6 months - or longer.
A lease belongs to the property which can change owner hands many times never affecting the lease. It is even possible, if the tenants fear you may try something shady like changing locks or moving out their furniture (called a self-help eviction), that one or both of the tenants may "record" their lease - making it even more difficult for you to effect any changes.
So rather than going into this property with the intention of "kicking out" people from their home, a nice-guy attitude would be best. Offer "cash for keys" wherein the tenant would release the property from its contractual obligations for a certain sum. If I were the tenant, I'd expect you to offer no less than full return of my security deposit, no questions; moving expenses; and at least 2 months' rent.
Do not even consider changing locks or adding one to prevent the other tenant from use of part of the property. Even if the lease doesn't specify that use, which it might, you cannot just barge in and change the terms or conditions under which they rent.
Take the previous advice given to you:
1. Get a lawyer - NOW
2. Read about being a landlord and specifically read the l-t laws in your state.
1) Talk to an real estate attorney
2) Will the seller extend the contract
3) Consider this is not the right place for you at the moment.
Based on your post, you are setting yourself up for failure, don't go changing the locks to lock them out. Seeking free help on the internet is only the starting point, time to take the next step and seek professional guidance.
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