Sale of investment: Transferring Lease to new Landlord

[David Stone]

We are selling one of our investment properties and are in the process of transferring the lease to the new landlord/owners (FSBO but the buyer has an agent).

Initially, they wanted us to have the tenants sign a new lease with their names before closing (but dated on closing date)... we declined.

Their RE agent now wants us to have the tenants sign an addendum to the purchase and sales agreement agreeing that the new owners will be considered the new landlords, where payment must be sent, etc.

I am wondering if this is a normal process for selling investment properties with existing tenants... do the tenants normally need to sign to agree to have the lease transferred to the new owner.  Seems to me this would only be between me and the new owners and have no involvement with the tenants (maybe just a courtesy letter explaining change in ownership and where to send future payments)

thanks!!