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Selling rental property with at-will tenants
K
Karen M
started a topic
almost 12 years ago
Both tenants are long term renters and are at-will. We have decided to sell the property and are concerned about the possibility of lack of cooperation with one of the tenants. Since there is no lease, once we notify them of the sale and supply 24 hour notice of a showing, what are our rights of entry?
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k
Karen S
said
almost 12 years ago
hmmmm it may be difficult to show the property, since showings are traditionally at random and you really need a tenant that understands that. its not in their best interest to have the prop shown, so in there lies the issue. you can inform the tenant and if they arent willing, then you may want to proceed with eviction.
B
Bob R
said
almost 12 years ago
Sit down with them and tell them your intention of selling. They’ll appreciate you being up front. Let them know that you realize moving is difficult and that you’re are willing to help them if they work with you….. Suggest a 60 days Notice to Vacate after you get a sales contract, $1000 and total sec.dpst refund. For this they MUST keep the property clean and allow the property to be shown when notified by RE agent. Also, they must not violate any Terms of the Agreement. They will receive $1000 and total sec.dpst refund within 2 weeks of closing…..This will keep your place rented until you find a buyer and possible 1-2 weeks after closing…. I use this method every time and it works great. Make sure your offer is in writing, signed & dated by all parties. Depending on how long it takes to sell, you may save thousands and you have tenant that will keep the place in good condition. If you decide to try this, keep me posted. . -----Disclaimer: Since I’ve been answering a lot of questions, I thought I would make the following statement. I’m not affiliated with EZlandlord Forms. I’m just here (not sure how long) to help those that have questions. Unfortunately, it is impossible to give comprehensive real estate/tax advice over the internet, no matter how well researched or written. Therefore, it is up to you to become familiar with Fed/State/Local Tax Laws. Also, if you have real questions, you should consult with an attorney or tax professional……Having 40+ yrs with Rental Property and done well, it’s my way of “Pay it Forward (check out the movie).” I always like to know if the suggestions I offer are helpful. Feel free to comment anytime. Thanks in Advance. BTW...check out the Rental Property Organizer at Simp-List.com. Free Trial Download with data. Check out the new $$$$ for 2013
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