If we plan to purchase a 4-plex apartment building but 1 of the units is leased by a hoarder, is there anything we can add to the lease to protect ourselves?
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If we plan to purchase a 4-plex apartment building but 1 of the units is leased by a hoarder, is there anything we can add to the lease to protect ourselves?
For example, if something should happen to him or if he abandon the unit?
Asked on October 31, 2012 under Real Estate Law, Wisconsin
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
I would make the purchase of the subject property subjet to the seller of the property getting the "hoarder" out of the unit either by legally terminating the lease or by paying the "hoarder" to cancel the lease he or she has and to move.
The problem with the "hoarder" you have written about is that his or her unit might not be assessible for an inspection to see what its condition is and if repairs are needed.
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