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Updated 3 months ago on . Most recent reply

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Austin Tess
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New property questions!

Austin Tess
Posted

Hello,

I am in the process of closing on a 2 unit property in Milwaukee, WI. There are currently tenants on a month to month in the upper and lower. I will be moving into the upper unit. I am closing on the 4th of December. How should I go about giving notice to the upper tenants? Is there a certain form? Or is it a letter stating that after such and such a date we will not be renewing your lease? Should I wait until I close on the house? 

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Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
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Jonathan Greene
#5 Starting Out Contributor
  • Real Estate Consultant
  • Mendham, NJ
Replied

Was this discussed as part of the purchase or left to you? I usually recommend that clients write one unit vacant into the contract because you can't serve a notice to quit before you own it and most landlords won't do it so it's hard to make your 60-day occupancy the way you are going to do it. Also, your agent should be able to help you with these questions. Do they do a lot of multifamily sales?

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