What do you guys do if you buy a place that has really weak rental agreements in place that don’t offer you much protection? Do you deal with them until the tenant moves, ask the renters to sign the new agreement or force them to sign the new agreement?
If there is a rental contract in place, you must honor that contract. You can ask the tenants to sign yours but they are under no obligation to do so – you certainly cannot force them to sign. Down here, 6-month leases are more-or-less the standard, so you won’t have to wait too long. I bought a property with tenants in it and, when their old lease expired, I put them under mine.
Keith