Whaddya do...how to handle

[Jackie Cramer]

Greetings to all fron NJ.

late 60's couple, husband died unexpectedly at work, just before Christmas.

SFH. They have been wonderful tenants...period. We were blessed with their tenancy.

Their plan was a move South in 2 years. Now the widow is staying thru her lease  which ends in May.

In talking with her she expressed a 'possibility' of wanting to stay past lease end, a month or two.

in short that doesn't work for us. Some upgrade is warranted and I anticipate 2 months to reno and re rent. 

Too, rents have skytocketed here and a very significsnt raise is called for with new tenants. (like 500+ more)

if I give notice of non renewal on Feb. 29, thats 90 days. Our lease requires 60 and it also has an ELT clause, but again she says that she will complete the term.

This is a new issue for us and do realize its a business decision.

Any suggestions on navigating these waters, or do I have to get fitted for a Simon Legree hat and cloak.

[Ron Brady]

If they were our tenants and had made us money and equity for some time, we would be willing to give up the 1-2 months of additional cash flow  to give the widow transition time. We’ve found ourselves blessed and would count this as an opportunity to share the blessings. For a limited time. We respect those who would approach this differently.