IF NEGOTIATED IN CONTRACT: Review existing leases and related paperwork
If you're buying a property that has tenants in the property, you should review the current leases during the Due Diligence period.
This should include:
- Leases for all tenants
- Lead-Based Paint Disclosure (if built prior to 1978)
- Co-signor agreements (if applicable)
- Mold Disclosure (if applicable)
- Move-In Inspection
- Occupancy Limits Disclosure (required in Fort Collins)
- Tenant Estoppel Statements
If you have an objection (or want to terminate based on what you find in the leases) you'd need to object by the Due Diligence Objection Deadline.
Mark this task done once you've reviewed the existing leases and related paperwork.