"No lease" good or bad if you're buying?
A listing description for a house says that a unit within the property “is presently rented for $1,700 monthly with no lease.” Does this mean you can ask the tenant to leave? Or does it mean you will have problems getting the tenant out? Is it good or bad? Thank you.
A listing description for a house says that a unit within the property “is presently rented for $1,700 monthly with no lease.” Does this mean you can ask the tenant to leave? Or does it mean you will have problems getting the tenant out? Is it good or bad? Thank you.
^ excellent point.
if they have no lease and you would like to get them out, i would suggest that as a criteria for closing that the property be delivered vacant. make the sellers get rid of them! plus, you will find out sooner if the tenants are gonna put up a fight.
Or, it could be a rent regulated tenant, who doesn’t need a lease, because the law protects them just the same without one. Better check carefully.
If no lease, the tenant is a month to month occupant..
First try to research the law on month to month tenancy.
If you understand it the procedure is very simple to evict.
Its “good”. Mens you can evict the tenant with 30 days notice if you choose. Whether or not they move is another story.