The property in question contained a separate in-law apartment above the garage, and the current occupants were hoping to extend their stay even after the property changed hands.
The decision to remove a tenant from a property played a pivotal role in my recent home purchase
However, I firmly declined this proposition, opting instead to delay the closing by several months to remove a tenant prior to my family’s move-in.
My stance against retaining the tenant stems from several factors. Primarily, my intention in buying the house was to secure a residence for my family, not to acquire an investment property. The prospect of having a stranger in such close proximity and the associated risks of managing a tenant was unwelcome. Notably, my home insurance costs would have escalated with a tenant, potentially burdening me with unexpected repairs.
Furthermore, my financial advisor warned that having a tenant might jeopardize property tax benefits. While some individuals opt for rental properties or multi-unit setups, such arrangements require careful preparation. It’s imperative to consult professionals such as insurance agents and accountants to comprehend the consequences.
My concerns were exacerbated by the fear that the tenant would resist leaving
Despite legal safeguards for tenants, difficulties arise when cooperation is lacking. Removing a reluctant tenant necessitates legal proceedings, court orders, and even law enforcement involvement to remove a tenant.
Facing the prospect of eviction or personal responsibility to remove a tenant, I chose to wait for a vacant property transfer. Prospective buyers should note that property ownership transfer doesn’t automatically nullify existing leases. Those averse to the responsibilities involved should consider avoiding tenant-occupied properties or negotiating to remove a tenant’s condition during the sale.
In essence, the decision to remove a tenant strongly influenced my home purchase timeline and terms. The choice underscores the intricate balance between property ownership rights and tenant protections within the legal framework.
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