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Updated almost 9 years ago on . Most recent reply

User Stats

5
Posts
0
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Sam Banerjee
  • Real Estate Investor
  • Morganville, NJ
0
Votes |
5
Posts

Lease Termination / Renewal options

Sam Banerjee
  • Real Estate Investor
  • Morganville, NJ
Posted

Hi: 

I bought a rental in NJ Nov'2015 - it was already occupied.  The tenants are good and had no problems signing a new lease from Nov till Jun 30th. 

Now they want to do month to month - which for me is not feasible. I am unable to reach them - they are not picking up phones / nor answering the door.

I would like to give them 2 options - 

  1. Renew for 1 year (same terms as existing lease -- I got a standard residential lease from staples)
  2. Vacate the place

Is there any standard / legal cover letter that I can send via postal mail ? 

Is there a minimum notice period that I will need to give them ? (nothing is mentioned in the lease) 

I'm a rookie at this still :) - so any help will be much appreciated.

Thanks

Sam

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