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Re: Why vacant multi-family empty - Landlord Forum thread 350767

Re: Why vacant multi-family empty by Anonymous on February 22, 2017 @06:28

                              
When you purchase a rental property, the current tenant and lease comes with the deal. A buyer doesnt want to inherit someone elses tenants or problems, especially if their goal is to flip he property for a profit.

The new buyer must legally honor any leases that are in place. From a landlording stance, it makes sense to start empty, do what you need to do with the property, and then fill it with your own tenants who meet your own rental criteria.
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Re: Why vacant multi-family empty by Anonymous on February 22, 2017 @08:25 [ Reply ]
I get the new owner wants to start fresh, but I would be getting a large non refundable deposit to cover lost rent for several months, if the deal fell thru.

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