Posted on: 14-02-11 14:25:24
You have no choice but to occupy the unit, and even months of hell, if the tenant is not playing well.Very often support a tenant is more headaches, and its value.
Quote:
Originally posted by dudewheresmycar
Buying a house with a tenant is the worst of all the options..
Finding a tenant is not hard.. much harder is to collect rent from a problematic tenant.
You want to put up 150 to 300K of ur money and want the tenant to come along.. I call it fools gold..
If u like the place buy it outright with clean title and without tenant..
Publish ads in Canadian desi and local newpaper u will find tenant in 1 month..
Always check credit before renting out place.
This is exactly what even experts recommend. One of GTA's largest landlord tenant property management companies is of the same opinion, from my experience in dealing with them.
If push comes to shove, and you have no options left but to assume current tenant, there are step that you can take.
Ask for their credit reports, verify their jobs, references etc. Make a point to interview tenant, always.
Good luck!
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Amit Kalia, Broker, REALTOR®
RE/MAX Real Estate Centre., Brokerage
independently owned & operated
100 City Centre Dr, Unit 1-702
Mississauga, ON L5B 2C9
Phone No.: 905-339-5111
Website: https://www.realestate-ontario.com/
Condo Blog: https://condopundit.com/blog/
Dear
My advise to you is DO NOT buy a property with tenant.. I bought a townhouse few months back with the tenant and had many problems..
The sellers are very smart they sell the house with the tenants and get rid of all the problems and you will have to deal with them...
Once the closing is over you will be stuck with the crazy tenants as well when they leave your house will be mess.. you will have lot of problems ...
So the best way to handle this situation is wait till the tenants contract gets over, then do the closing and get a clean and neat house from the seller on your conditions...
Regards
Aditya
which company ?
Quote:
Originally posted by amit kalia
This is exactly what even experts recommend. One of GTA's largest landlord tenant property management company are of the same opinion, from my experience in dealing with them.
If push comes to shove, and you have no options left but to assume current tenant, there are step that you can take.
Ask for their credit reports, verify their jobs, references etc. Make a point to interview tenant, always.
Good luck!
Buyer always has options as far as letting go tenants..
I have never heard of a seller who will force the buyer to take on the tenant, unless it is a Multiple dwelling unit with multiple tenants.
Quote:
Originally posted by amit kalia
Quote:
Originally posted by dudewheresmycar
Buying a house with a tenant is the worst of all the options..
Finding a tenant is not hard.. much harder is to collect rent from a problematic tenant.
You want to put up 150 to 300K of ur money and want the tenant to come along.. I call it fools gold..
If u like the place buy it outright with clean title and without tenant..
Publish ads in Canadian desi and local newpaper u will find tenant in 1 month..
Always check credit before renting out place.
This is exactly what even experts recommend. One of GTA's largest landlord tenant property management company are of the same opinion, from my experience in dealing with them.
If push comes to shove, and you have no options left but to assume current tenant, there are step that you can take.
Ask for their credit reports, verify their jobs, references etc. Make a point to interview tenant, always.
Good luck!
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