Landlord Question and Answer Forum
We just purchased a house at an auction (foreclosure). There are presently renters in the house. We are willing to have them stay but one of the renters has said that we have to honor their old lease ( month to month). What are the steps we have to go through to start them opn our lease and rent going up to $900 a month instead of $800. Please help me here!
Sue R, WA on Wednesday, June 22, 2011
RE: just purchased rental house.
First of all, there's a federal law that went into place, the Protecting Tenants from Foreclosure Act. I believe there's a summary of it among the articles on this site, and I think the law itself is offered on this site as a document. After waiting the requisite 3 months (during which they still need to pay), you can send them an increase in rent notice, which they can either accept and stay, or decline and vacate.
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