Taking over new tenant

[CBlack]

Hello fellow REIN members,

I have purchased a home (in Alberta) with tenants already in place, we take possession on July 18. When we were doing our do diligence we looked at the lease agreement and talked to the current tenants. I called last night to let them know what was going to happen on possession date and found out that 1 of the people on the current lease agreement has moved out. There is still one person that is on the lease agreement that is staying in the place and he has informed me that he is having 2 new room mates move in before we take possession. They are not on any lease agreement, my question is can I ask them to fill out our application and if they do not meet our standards ask them to move? If they do meet our standards do I add them to the existing lease agreement from the old landlord. The current lease agreement was for 6 months and expired on July 1st and is now a month to month lease.

Thanks,
Chris

 

[invst4profit]

Talk to the present landlord and inform him that he is not to make any agreement with new tenants.
That way when you take possession if they are there they will not be on a lease agreement and you can do as you please. Inform the present tenant that his friends are not to move in until approved by you and not until after the possession date.
Ask that they sign a new lease if you wish with all there names on it. You need something to cover any new tenants and considering the tenants are changing I believe you have the right to do so.

 

[godlogl]

QUOTE (invst4profit @ Jul 10 2008, 11:53 AM) Talk to the present landlord and inform him that he is not to make any agreement with new tenants.
That way when you take possession if they are there they will not be on a lease agreement and you can do as you please. Inform the present tenant that his friends are not to move in until approved by you and not until after the possession date.
Ask that they sign a new lease if you wish with all there names on it. You need something to cover any new tenants and considering the tenants are changing I believe you have the right to do so.

Yes I would deffinately meet with all of them before any new lease is signed, to determine if you want them as tenants. If you wnat them then sign a new lease. If you dont want them all give them proper notice as per the Month to Month landlord tennant rules. For the full rules if you dont have them you can get them at http://www.investmentrealestatecalgary.com...ge_2082824.html

Hope that helps