Buying apartment building

[MarkusL1]

Hello!

I'm planning to buy a 10 unit apartment building in the DR and convert it into a apartment hotel. How is the legal situation in regards to the old tenants. Can I just wait for all leases to end and not renew them, or do longterm tenants have a right of a very long cancelation term (like in Europe).

Thanks for your input.

 

[Dolores1]

If the building has people renting, it doesn't look good for you. Laws in the DR protect the tenant, and you could find yourself with many a tenant that decides to stay on indefinitely.

 

[Golo100]

My advice

Stay away from this. You could spend your whole life trying to get these people out. Once they know your intentions, you will get milked out of your money.
TW