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Updated about 3 years ago on . Most recent reply
Notify Tenant the Property is Under LLC
I recently created an LLC for a rental property that I have been renting out to a long term tenant. Do I need to let the tenant know of the change? Do I need to have them sign a new lease or can I add a lease addendum stating that the property is now under an LLC? I searched around for a template for this type of situation but haven't found anything. Any advice would be appreciated!
Thanks for looking!
Most Popular Reply
Well I'm no lawyer, but the lease is between two identified parties (at a minimum). If one of those parties intends to change, then the other side would need to agree to an update to the contract. That being said, I would find it surprising if a tenant cared much about this requested change. Unless they wanted to try to use the request as an opportunity to get out of their lease or some other agreement change. But I would think that would be low risk.