When you close on investment property with tenants in place who have a lease signed toll december 2025, do you renew the lease with your own name or the previously signed lease remains in place till it gets over?

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Usually I have the current tenant sign an estoppel before I close. After I close, If I want them to stay I usually offer for them to renew for a longer period of time. If I don’t want them to stay, I wait til their current lease runs out.

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The answer here depends on the state. Landlord tenant law is a state law issue. It depends on the size of the property and whether or not the buyer wants to occupy the unit personally. Assuming the property is four units or less and will be owner occupied, you have to give two terms notice. Generally speaking, I would let the lease expire and send notice two months before the expiration that the owner wants to use the unit for his own use

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All of the leases should be assigned to the new owner at closing, and all tenants should SNDAs. This is not as easy in residential leases, but these are usually for one year and I usually let these expire then put the new lease in the owner’s or management company’s (the best way to do it, but it can create more paperwork and only works practically with multiple or large properties) once these residential leases come to be renewed.

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