What Happens When Someone Passes Away in Your Rental Property

I have another reader question for you today, and it’s a good one, and it has to do with what happens when someone passes away in your rental property. 

 

The exact question was:

 

When a tenant passes away in your rental property, and they have a month-to-month lease with no one else on the lease, how long do you give the family to clean out the house? He was there for 15 years and had a lot of stuff. She also goes on to say they inherited the tenant when they bought the house. What a great question. 

 

So, let’s break this down into bite-sized pieces because there are actually a lot of pieces, and some of them are legal issues to address.

 

 

[00:01 - 04:19] Opening Segment

• How to navigate probate laws when a tenant passes away in your rental property

• Notify the authorities and get written documentation of the death

• Work with the executor, personal representative, probate attorney, or court to ensure legal compliance

 

[04:20 - 08:33] Understanding the Process of Handling a Tenant's Estate After Death

• Secure the property as soon as you know that someone has passed away

• Do not allow anyone into the property until you have paperwork that declares the decision maker

• Lease extends to the expiration date, even if the tenant passes away

 

[08:34 - 11:09] Closing Segment

• Long-term lease requires payment until expiration by the estate

• Any unused portion must be returned to the executor

 

 

Resources Mentioned:

 

Blog: Louisville Gal's Real Estate Blog

 

Podcast: Let's Talk Real Estate Investing Podcast

 

FREEBIE: Probate Investing Starter Kit

 

Probate Course: Probate Investing Simplified Course

 

 

Key Quote:

 

“As a landlord, your number one priority will always be to regain control of the property as soon as possible.” - Sharon Vornholt

 

 

WANT TO LEARN MORE?

 

Connect with me through my website, Instagram, and LinkedIn.

 

Or you can send me an email at sharon@sharonvornholt.com 

 

Be sure to check out the Louisville Gals Real Estate Blog and my course Probate Investing Simplified.

 

Learn more about this podcast on iTunes or Stitcher.

 

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