Selling a rental
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Selling a rental (by Turbo [IL]) Feb 21, 2018 5:03 PM
       Selling a rental (by Moshe [CA]) Feb 21, 2018 5:11 PM
       Selling a rental (by AllyM [NJ]) Feb 21, 2018 5:13 PM
       Selling a rental (by Ken [NY]) Feb 21, 2018 5:28 PM
       Selling a rental (by LindaJ [NY]) Feb 21, 2018 5:30 PM
       Selling a rental (by Landlord ofthe Flies [TX]) Feb 21, 2018 5:38 PM
       Selling a rental (by NC INVESTOR [NC]) Feb 22, 2018 7:06 AM
       Selling a rental (by WMH [NC]) Feb 22, 2018 7:15 AM
       Selling a rental (by Deanna [TX]) Feb 22, 2018 10:07 AM
       Selling a rental (by NC INVESTOR [NC]) Feb 22, 2018 5:19 PM
       Selling a rental (by Turbo [IL]) Feb 22, 2018 6:05 PM


Selling a rental (by Turbo [IL]) Posted on: Feb 21, 2018 5:03 PM
Message:

How much notice do you have to give a tenant if you are putting a rental up for sale?

--98.212.xxx.xx




Selling a rental (by Moshe [CA]) Posted on: Feb 21, 2018 5:11 PM
Message:

The same amount of notice that you have to give under other any other circumstances.

--47.139.xx.xxx




Selling a rental (by AllyM [NJ]) Posted on: Feb 21, 2018 5:13 PM
Message:

I would probably give them sixty days. --73.33.xxx.xxx




Selling a rental (by Ken [NY]) Posted on: Feb 21, 2018 5:28 PM
Message:

Are you telling them to leave? or just listing it for sale? if you need them to leave that will be determined by your lease and local laws,if you are just listing it for sale and the tenant will remain with the house I don't give them any notice --72.231.xxx.xxx




Selling a rental (by LindaJ [NY]) Posted on: Feb 21, 2018 5:30 PM
Message:

I would give them a couple of months notice if possible. You are going to want their co-operation in showing the place and keeping it nice.

If you are talking about asking them to leave - If you have a lease, the lease will carry to the new owner, so they can stay for the full term of the lease unless they are given some incentive to leave. If they are month to month, you might have to give them a full calendar month.

Whether they stay or leave, you do need to keep the good will and get their co-operation. --96.236.xx.xx




Selling a rental (by Landlord ofthe Flies [TX]) Posted on: Feb 21, 2018 5:38 PM
Message:

You might also want to do an inspection and repairs before listing. You should also sit with them and let them know that they will still continue on with the lease once it's sold. The new owner will be the landlord. You should also offer them some money for helping out. Give them the money once it's sold, and not a day before. That way, they have an interest in getting it sold too. This will make the house tidier, yard more manicured, and have them greet the buyers with a smile. --108.69.xxx.xxx




Selling a rental (by NC INVESTOR [NC]) Posted on: Feb 22, 2018 7:06 AM
Message:

Are you planning on selling to another investor? If not you do need to consider your lease since in most states the lease survives a sale regardless of whether it is an investor or potential homeowner.

If your are targeting a homeowner I would wait until the end of the lease or close to the end to assure any potential buyer that occupancy upon closing will not be an issue. --71.75.xx.xx




Selling a rental (by WMH [NC]) Posted on: Feb 22, 2018 7:15 AM
Message:

Can someone point me to the law that states the lease survives a sale of one person to another? (Not counting bank foreclosures, etc.) And please, I'd like to read the law, not a web page that has interpreted the law. --50.82.xxx.xx




Selling a rental (by Deanna [TX]) Posted on: Feb 22, 2018 10:07 AM
Message:

@WMH, I only do MTM, but isn't it wrapped up in the nature of a lease itself?

For example, if I lease 101 Oak Street to Fred for $1,000/mo from Jan 1, 2018 to Dec 31st, 2018-- then I no longer have the right to give someone else possession of the premises before Jan. 1st, 2019. Because I've already given that right to Fred. So I can change ownership of 101 Oak Street, and sell it to Susan anytime I want-- but Susan has to honor Fred's possession at the rate of $1,000/month until Dec. 31st-- because those terms were already legally agreed upon prior to Susan's ownership. --96.46.xxx.xx




Selling a rental (by NC INVESTOR [NC]) Posted on: Feb 22, 2018 5:19 PM
Message:

WMH:NC ARTICLE 1 CHAPTER 42-7:

When any lease for years of any land... on which a rent is reserved determines during a current year of the tenancy, by the happening of any uncertain event determining the estate of the lessor, or by a sale of said land under any mortgage or deed of trust, the tenant in lieu of emblements shall continue his occupation to the end of such current year, and shall then give up such possession to the succeeding owner of the land, and shall pay to such succeeding owner a part of the rent accrued since the last payment became due, proportionate to the part of the period of payment elapsing after the termination of the estate of the lessor to the giving up such possession; --71.75.xx.xx




Selling a rental (by Turbo [IL]) Posted on: Feb 22, 2018 6:05 PM
Message:

Thank U! --98.212.xxx.xx





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