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Updated about 3 years ago on . Most recent reply

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Laura Marin
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Can I terminate the current tenants verbal leases after closing?

Laura Marin
Posted

I have just closed on a duplex in Miami which has two tenants on verbal leases paying monthly. The estoppel letters were signed with a lease end date 31st March 2022.

I sent the tenants letters with notice to terminate their leases, the date being 31st Jan 2022.

The tenants have said they were assured they could stay until March. The previous owner has also agreed that he had promised them that they could stay until that date.

Ive since had a response from the previous owners lawyer:

“The tenant is occupying the property pursuant to a verbal lease agreement with the prior owner extending the term of the lease until March 31, 2022 as set forth in both estoppel letters.

If the prior owner is called to testify in eviction proceedings, the prior owner will have to testify as to the agreement with the tenants as stated above.”

Ideally I would like the tenants to vacate asap so we can renovate and increase the rents. Also one of the tenants doesn't actually live there, they are subletting it as an Airbnb.

What are my options here, do we have the right to terminate, or at least raise the rents to market value for the final months. Or am I stuck until April?

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Jill F.
  • Investor
  • Akron, OH
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Jill F.
  • Investor
  • Akron, OH
Replied

You should just wait the extra two months. Your beef was with the prior owner and should have been settled before closing. Your most cost effective option in this case will be to stay out of court and try to have a no damage turnover in march.

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