Buying rental property...Is current lease agreement still valid

[sunsetlrc]

I am currently buying rental property in Tx. The property has a tennant that has a lease. Is that valid once I purchase the property? Do we have to stay with the original lease start and end dates or can we just start over???? Does the current owner responsible for terminating the lease with the tennant? I would like for the tennant to stay but do not like the current terms of the agreement. For example: Currently she has a dog, and no pet deposit was collected. Can I go in and change those thing which I will want to require of my tennant? Thanks!!!

 

[HomeGuru]

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by sunsetlrc:
I am currently buying rental property in Tx. The property has a tennant that has a lease. Is that valid once I purchase the property? Do we have to stay with the original lease start and end dates or can we just start over???? Does the current owner responsible for terminating the lease with the tennant? I would like for the tennant to stay but do not like the current terms of the agreement. For example: Currently she has a dog, and no pet deposit was collected. Can I go in and change those thing which I will want to require of my tennant? Thanks!!!<HR></BLOCKQUOTE>

The current lease stays intact even if the property changes ownership. You can not change any terms and conditions of the lease when you become the new landlord. Only when the existing lease expires can you state your own terms. Make sure you get the tenants' security deposit transferred to your account at closing.

 

[leep]

OH GEEZ.you dont like the terms she has a dog and no deposit.....

Well that should knock off $3 to 5000 off the sales price of the home...if you are smart!

But you probably are a dumb ass...and are willing to evict a good tenant because she pays has a dog....

Because she will leave if you demand a deposit,and raise the rent... then I hope you get a drug addict for a tenant..it will serve you right!

If you have any decency in you tell her now that you will not renew the lease as long as she has a dog...

Not 30 days before the end of the lease..
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<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by sunsetlrc:
I am currently buying rental property in Tx. The property has a tennant that has a lease. Is that valid once I purchase the property? Do we have to stay with the original lease start and end dates or can we just start over???? Does the current owner responsible for terminating the lease with the tennant? I would like for the tennant to stay but do not like the current terms of the agreement. For example: Currently she has a dog, and no pet deposit was collected. Can I go in and change those thing which I will want to require of my tennant? Thanks!!!<HR></BLOCKQUOTE>