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Updated about 1 year ago on . Most recent reply

User Stats

4
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1
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Edwin Ortiz
1
Votes |
4
Posts

Notification to tenants of intent to sell with a twist

Edwin Ortiz
Posted

 Back story is: lease expired and sent tenants in advance intent to raise rent (was barely breaking) they decided to extend only 6 months at current rate. since then, i just got a job offer to move to Atlanta. I decided that since i am leaving i dont want to have to go through getting new tenants so i have decided to sell. 

"twist" is i would not mind keeping the same tenants but if they decide to leave in May as intended then I'll be behind the ball on getting it ready to sell. California law i want to give them ample notice asap.  my question is how do i formulate the letter that says if you don't renew im selling without sounding like I'm trying to handcuff them? tough situation since i have to give them so much notice but also dont want to lose time if i don't send them the letter.  they have been solid tenants for 3 years, but the business end of this is that the value of current rental rate is not value for me. 

  • Edwin Ortiz
  • Most Popular Reply

    User Stats

    156
    Posts
    78
    Votes
    Lateefah Mathews
    • Realtor
    • Atlanta, GA
    78
    Votes |
    156
    Posts
    Lateefah Mathews
    • Realtor
    • Atlanta, GA
    Replied

    @Edwin Ortiz I don't think you need to overly complicate the situation. It just might be best to communicate openly with your tenants.

    Express your job offer and relocation plans. Let them know you're considering selling but would be open to keeping the current arrangement if they choose to renew or sign a 12 month lease((whichever works best for you). Keep it simple, honest, and give them ample time to make a decision. Hope this helps and best of luck with your relocation!

  • Lateefah Mathews
  • [email protected]
  • 404-333-8693
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