vacate tenant for selling but now want to change mind

[Peter Sik]

Hello all, this is regarding property in Adelanto, CA 92301.

Sent 60 days notice to tenant and told them the property will be selling. But now I see the market is going down a lot also days on market increased, what if I change my mind and after their vacate then post the property for rental. Is it going to cause any legal action? The date of their vacate will be on 12/20. Thank you

[Peter Sik]

Quote from @Nathan Gesner:

Quote from @Peter Sik:

Hello all, this is regarding property in Adelanto, CA 92301.

Sent 60 days notice to tenant and told them the property will be selling. But now I see the market is going down a lot also days on market increased, what if I change my mind and after their vacate then post the property for rental. Is it going to cause any legal action? The date of their vacate will be on 12/20. Thank you

The market hasn't changed that much in the last 60 days. It gives the impression you just used the sale as an excuse to get rid of the Tenants and then rent to someone else at a higher rate or something.

I'm not saying that's true; I'm just telling you my impression from what you've shared.

Yup, I do agree with your comment for that impression. The tenant's lease is by month to moth. This is consider the lease is ended anyway. 

My idea is to list the property for 3 month to see if it will be sold, if not then back to rental market.  Don't want to stay for too long with no rental income. If the property market is better then I am happy with that, cuz my intention is to cash this property and put it in US bonds or CD, then receive 4.5% return... Why not.. good liquidity too.

Thank you all the comment.

@Nathan Gesner

@Will Fraser

@Nicholas Coulter