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Posts: 1
Reply with quote  #1 
Recently I inherited some houses. All have tenants but I don't have the leases. I don't know what the rents are or when the leases expire. What can I do?

Posts: 507
Reply with quote  #2 
Who did you inherit them from? I assume there is a lawyer involved, they can't get you copies of the old leases? Any records of previous deposits of rent payments or anything?

Either way, you should probably consult with an attorney, at least to get your own, new lease ready to go and use moving forward. When you have him do that, ask him how to handle the current situation. I am guessing it will be something along the lines of asking the tenants for copies of the current leases and any that can't or won't provide it will need to start a new lease with you using your new lease at current market value. This incentivizes them to actually provide the lease, or else face a probable rent increase, and if you tried to do this anyway, the only real way for them to fight it would be to provide you with their current lease. This way, you can find out current rents and get what you should have been given already, or else get everyone on a good, new lease that has been reviewed by an attorney. 

State law may dictate how this should usually go, hence the lawyer and first asking them for a copy of their current lease.
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