Raising Rents - Input Requested

[Catie Fihn]

We have tenants who we inherited from the purchase of a rental property earlier this year.  We would be fine with them staying, but their unit is in serious need of TLC, and we would like to repair what needs to be repaired.  There are things that need to be done that we simply can't do with them living there.  They are in a year-long lease which ends 7/31.  We are considering asking them to move out for a couple of months at the end of their lease so that we can rehab the unit, then have them move back in this fall once we are finished.

How far in advance of the end of their lease do we need to let them know this?  This is not an eviction, as we simply wouldn't renew their current lease. 

I'm also not sure if us rehabbing their unit and having them come back to start a new lease in fall would add another layer of complexity.   Any helpful advice would be appreciated!  

[Greg M.]

Unless your unit is WAY under market, they aren't leaving and coming back. Do you have any idea the cost and hassle to move? 

Assuming you've done the math and it is financially best to have them leave, lose the rent, and pay rehab expenses so you can charge a higher rent, just non-renew them. Find new tenants when ready.