Posted by Bud Branstetter on December 28, 2000 at 24:08:21:
You use a contract for commercial property. It will likely have a clause that prorates the rents to you. You can also put in the contract that the former owner is responsible for collecting rents owed. Be cautious on multi units. Review all leases. Go over their books and tax return schedules for the last couple years. There may be laundry, payphone, coke machines, garbage service etc. to be concerned about and address in the contract.