Tenants - Posted by Matthew

Posted by Brent_IL on February 23, 2002 at 09:03:55:

1- Put a vacancy requirement in your purchase contract. Don’t close until the tenants are gone and the place is empty.

2- Ask tenants to leave before settlement.

3- Pay tenants to leave after settlement.

Tenants - Posted by Matthew

Posted by Matthew on February 23, 2002 at 08:46:32:

Can I Buy two family house in NJ with out the tenants or do I have to keep the tenants. If there a way to buy this property with out tenants living in there please let me know.


Many states have LAWS… - Posted by David Krulac

Posted by David Krulac on February 23, 2002 at 10:56:15:

that say a new owner must honor the tenants leases until expiration. If the tennat has a month to month lease then 30 days notice is required, see Santa Rosa story posted below. If the tennats have a lease for 3 more years then the tenants may stay, their choice for the remainder of the three year lease.

I like to get rentals vacant and chose my own tenants, but some times I have inherited tenants. A seller may be reluctant to vacate the building if there is even the smallest doubt that the sale will actually close.

David Krulac