Correct Way to Inform Tenant I'm Selling House

[Matthew Rembish]

Looking for some advice with a single family rental my wife and I own. I've had a tenant in one of our rentals for almost 3 years now. His lease is coming up on September 1st and we really want to sell the property. As everyone already knows, values are up but rentals are very tough to come by, which will make our tenant's transition difficult. On top of that, after speaking with him yesterday about the potential sale of the property, he informed me that he just left his job, which I know will make finding another place for himself very difficult. I can't seem to find information anywhere on how much advance notice you need to give your tenant before you discontinue their lease. My thoughts are that on September 1st, we renew him on a month-to-month lease (instead of his usual annual lease) and give him a 2 month deadline as to when he needs to be out. That's the most fair scenario that I can think of but I'm looking for some feedback on if there is a better way to handle this. I've never done this before so I'm trying to make sure I'm making the right moves. Thanks!

[Adam Berkowitz]

Personally, if i were buying your house and there was already a good tennant in there, i would be elated. Perhaps you could reach out to other investors to sell the house. I feel as though some investors would hop on an opportunity to buy a rental with a tenant. This way, your tenant can stay and you can still sell your house.

Im actually surprised no one has commented on here offering to buy it