New Landlord and Old Tennant (Indiana) : ezLandlordForms

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New Landlord and Old Tennant (Indiana)

Peter R

started a topic almost 12 years ago

I recently purchased a home and plan on renting it out. Currently there is a tenant living there from the last owner. He is paying a really low monthly rent and I want to raise the monthly rent. Does the current tenants lease agreement extend even after the house has been sold? Also, can I legally raise the rent to what ever price I want even while he is currently living there? Can I kick them out if they do not agree to the new monthly rent cost?

2 Comments

Dawn A

said almost 12 years ago

If you bought the property with a tenant, and the tenant has a lease agreement, you must honor the lease agreement until it ends. Then you can raise the rent to whatever you feel is fair. Give the tenant at least 30 days notice for the rent increase and let them know that you're bringing it to market rent. Ask them if they wish to continue. If they don't, that's their choice.

Peter R

said almost 12 years ago

Thank you very much for the reply and help. Happy holidays