This week’s question comes from Joaquin on the Real Estate Rookie Facebook Group. Joaquin is asking: When you purchase a property with a tenant already in the middle of their lease can you increase their rent or do you have to wait until their lease is up?
Inevitably, you’re going to come across some deals that have renters in place, but whether you want to keep them on as tenants is up to you. During this time of eviction moratoriums, you may be questioning whether or not an inherited tenant is worth the hassle. Here’s what Tony and Ashley think:
If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! Or, call us at the Rookie Request Line (1-888-5-ROOKIE).
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Scout is a valuable tool real estate investors and wholesalers can use to look up property information, save and organize properties, and get property owner contact information (such as phone number, email, and mailing address) for free. More than looking up property information such as tax information, parcel ID, property owner information, sales history, and more, it helps you stay organized, and staying organized is a crucial part of being successful in real estate. Scout also allows you to look up properties on the go, that way if you’re driving past a distressed property, you can pull it up on your phone, save the property, and even write a note on the property to help keep you organized.
Scout offers a 7 day free trial so you can test out their software, and cancel anytime you’d like with no obligation. Go to scoutproperty.co and sign up for a free trial.