Q: Buing Apartment in NJ with tenant in place.
I am trying to buy an condo in NJ with tenant in place. Tenant has a lease till Aug 2018. If tenant is not paying rent can we evict them out? I have seen some tenant in some place where its impossible to evict them, why is that? What are the points I should add to my contract to make sure I am not buying a property with tenant issues?
A: You ask a lot of questions and many of them are involved and vary from town to town as some towns have rules in regards to rent regulations. I suggest you setup a 1/2 to 1 hour consultation with a lawyer to discuss what is needed. Of course a lawyer will charge you his hourly rate for the advise generally from $300 to $1000 per hour, (generally the better the lawyer the more you will pay) but it could save you tens of thousands of dollars in the long run and a lot of stress.
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