New property owner with month to month tenant

[Andrea Thurau]

Hello Bigger Pockets!

I have a sticky situation and I am hoping to get some advice. I recently just went under contact for a triplex in the Cleveland area. The front unit is a three bedroom 1.5 bath and I plan on living in that unit while renting out the other two, one bedroom apartments in the back. This is my issue, all of the tenant know one another either by a blood relationship or close emotional ties and I am asking the tenants that have lived there for 5 years that have been on a month to month for the past 5 years to move out so I can move in. 

This is my question, what are some suggestions that you have about making the process as seamless as possible. I am having the seller give a 60 day notice so the move is no surprise to them (especially over the holidays) but how do I keep a good relationship with the tenants that are staying? 

I am interested in all advice. Thanks in advance!

[Steven Gesis]

Originally posted by @Andrea Thurau:

Hello Bigger Pockets!

I have a sticky situation and I am hoping to get some advice. I recently just went under contact for a triplex in the Cleveland area. The front unit is a three bedroom 1.5 bath and I plan on living in that unit while renting out the other two, one bedroom apartments in the back. This is my issue, all of the tenant know one another either by a blood relationship or close emotional ties and I am asking the tenants that have lived there for 5 years that have been on a month to month for the past 5 years to move out so I can move in. 

This is my question, what are some suggestions that you have about making the process as seamless as possible. I am having the seller give a 60 day notice so the move is no surprise to them (especially over the holidays) but how do I keep a good relationship with the tenants that are staying? 

I am interested in all advice. Thanks in advance!

 I think the most important element in this process if for you to keep the emotional element out of the equation and treat this as a business transaction 100%, everyone will be fine and everyone will continue to live together. This is the nature of a month to month, this is not your fault, these are the risks tenants incur when choosing to not secure a long term or timed contract, a month to month is what it is. Just think of the flip side, if the tenant who is month to month elected to leave you would have a vacancy join your hands, it is a 2-way street, at the end of the day you pay the bills. I do not think there is an easy way to approach this, I think you just need to pull the band-aide and call it a day. Change the locks when you move in, I suspect you have this planned out. 

A 60 day notice is ample warning and very courteous/generous, again the best advice I propose is keep it professional keep the emotion out of it and operate your business, grow your wealth and enjoy your new home:)

#TeamTurnkey