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Best Practices for Inheriting Tenants: Rent, Leasing, etc.

Best Practices for Inheriting Tenants: Rent, Leasing, etc.

When you buy a rental house, it might include tenants in place, and these renters will suddenly turn into YOUR tenants. These tenants are called "inherited tenants.” Inherited tenants may be valuable, as you won't have to immediately spend some time filling the empty unit, and you are going to be getting income from day one. But inherited tenants may also be insecure, since they weren't set in place by you personally, and you do not have a very clear sign of just how well they have been screened or which kind of tenant they are.

What's more, they could have been badly trained by the previous landlord and will have to get re-trained to follow your principles. The exception to the rule is that those renters will be totally perfect, and you will be grateful to have them.

The Pros and Cons of Renting Older Properties

The Pros and Cons of Renting Older Properties

In real estate investing, there's an assortment of classic debates which will likely remain unresolved for the near future. Is it better to invest in newer or older properties? If you opt for long-term leases, do you concentrate on cash flow or capital development? Repay the debt on your own investment portfolio or boost it by refinancing to include more properties? Purchase properties in B and A ranked places or chase the greater yields of D and C ones?

In this post, I’m going to talk about the pros and cons of buying newer verse older rentals. I am certain that there'll be property investors behind each argument but this is meant to supply a synopsis of the advantages and disadvantages of every property type.

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