Acquisition tenants can be an added bonus when purchasing a rental property. The landlord inherits a paying tenant as soon as the house closes, allowing them to start making money right away. After closing, most mortgages allow for up to 60 days before the first payment is due, depending upon the terms of the loan, so this is a great time to save up before the first payment is due.

However, the inherited… Read More »

As always, this article does not provide or imply legal advice. Check with your local, state, and federal laws. This article provides some guidelines to keep in mind as you begin your tenancy with an acquired tenant.

Purchasing a property with an acquired tenant can be a wonderful experience, where you’ll benefit from instant cash flow without having to find and place a tenant. It can also be scary, as you wonder whether… Read More »

An acquisition tenant is an inherited renter currently residing at a property that you buy. Acquisition tenants come in all varieties. They may be in typical 12-month leases, or often they have lived at the property for years. In some cases, paperwork for these tenants may be old, incomplete, or nonexistent. Most importantly, these are tenants that you did not get to screen, choose, or have a say in selecting. They come with the property.… Read More »