Landlord question

[Aaron Millis]

I will possibly be purchasing a condo that has tenants in it soon. In a perfect world I would like them to leave so I can move in for a year and rent it when I leave... But if I can get them to leave I'm not completely opposed to being their landlord for a little while. But I read somewhere recently that it is a federal law that the tenants must move out if the owner decides to make the property their residence. Is that true? I've been lead to believe that there's is not really anything you can do to break their lease- other than try to give the incentive to leave... Assuming they aren't doing anything wrong

[Gail K.]

"But I read somewhere recently that it is a federal law that the tenants must move out if the owner decides to make the property their residence. Is that true?"

This is incorrect (in Georgia).  

What type of lease do these tenants have?  If on a yearly lease, the lease would "roll over" to the new owner (you) until it would normally expire.  If on a month to month tenancy ( known as a tenancy at will in Georgia) this can be terminated with a 60 day written notice by the landlord, a 30 day written notice by the tenant.

And the incentive to get a tenant to leave is known as a "cash for keys" situation; if these tenants have a longer lease, you offer them $$$$ to leave earlier than the lease would normally expire.

Gail