If you intend to purchase a home as a rental property, you need to take several things into consideration. One thing to think about are your responsibilities to a tenant currently livening in the home if you buy from another landlord. Tenants have rights, and you need to understand them before you move into your purchase. Here are some things you need to think about. Rights of the Tenants One thing you should know is tenants' rights do not change just because there is a change in the home's ownership. The lease the tenants have currently has to remain in place even after you take ownership of the home. Once you close, you may not increase the rent, change the clauses, or have the tenant leave before their lease is up. If you want the tenants to leave, you have some options. One option is to put the burden of removing the tenants on the current owner by only closing with the contingency that the house will be vacant. If the seller will not do this, you could try to renegotiate the terms of the lease with the tenants or offer to buy them out of the lease. Keep in mind, however, the tenant does not have to agree to these terms as long as the lease is valid. You also are at risk of a lawsuit if you try to force tenants out prior to their lease expiration. Obligations of a Landlord Once you own a rental home, you have certain obligations as a landlord. The most important job you have is to ensure the home is safe and habitable for the tenants. At a minimum, you must make sure to keep the floors, stairs and hallways in good condition. All structural elements of the home, including the roof, are fully intact. The electrical and plumbing system should also be in good working order and up to code. Homes need to have a heating and cooling source and good ventilation. A rental home also must have clean running water and a functional water heater to ensure the home has access to hot water. Landlords must also deal with any infestations or rodent problems in the home and be sure there is no risk for asbestos and lead paint poisoning. Types of Lease Changes The type of lease the tenant has in place when you take ownership will depend on how or when you can make any changes. If the tenant has a month-to-month tenancy, you only have to provide a one month notice to the tenant to either vacate the property or make changes to the lease for the months to come. If the lease is a fixed-term lease, in which a tenant has a set amount of time before he or she has to leave or endure changes to the terms, the tenant has the right to stay in the home under the current terms. You then may either opt to not renew the lease or change the lease to your terms. The tenant then has the option to either leave the home or sign a new lease with you agreeing to your terms. Some leases, however, may contain language which states that the seller of the home has the right to change or terminate the lease if the home is sold. If this happens, you as the new landlord will not have a lease with the current tenants. As a new landlord, you must familiarize yourself with landlord and tenant laws. Having an estate attorney on your side will help prevent any legal slip-ups. If you need assistance as a new landlord, please contact Donald B Linsky & Associate .