Assuming Prior Owners Notice to Vacate (Connecticut)

[Patrick Bowen]

Hi All -

I'm looking to purchase a small 5 unit apartment building in Connecticut which will require a significant amount of capex needed in order to hit proforma returns. Currently, the property is 100% occupied by month to month tenants. Providing tenants with a notice to vacate is always the worst part of investing but as you all know, its nearly impossible to complete a full reno with residents in-place and, the cost synergies of renovating the entire property at one time are too advantageous to pass up. That being said, I always aim to provide at least 60 days of notice (when only 30 days is required) as I can appreciate the time needed to secure new housing.

My question for you all is, if the current seller provides the tenants with a notice to vacate upon the expiration of the sales contract's final contingency date, would I as the new owner be able to inherit their notice? For example, if the final contingency date was 20 days prior to the close, I would only need to wait an additional 40 days compared to a brand new 60 day period if I had to issue the same notice upon the commencement of my ownership period.

Thanks in advance for your valued wisdom and advice.

Pat