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Updated over 7 years ago,

User Stats

9
Posts
0
Votes
Justin German
  • Investor
  • Scottsdale, AZ
0
Votes |
9
Posts

Asking a good tenant to move out for sale

Justin German
  • Investor
  • Scottsdale, AZ
Posted

Hey BP,

I am looking to sell my property that is currently occupied by a tenant.  He is a great guy, a single Dad, never been late on payments and has been very understanding about some not so great property management issues in the past. So I want to be sure he isn't put into a difficult position.  When I approach him about selling the place I would like to have some sort of document for him to sign saying that he agrees to the terms of moving out and breaking his lease.  I have been told that in cases like these incentifying the tenant with sums of money if they are able to move out by certain dates is a good way to go.

My question here is does anyone have any legal type documentation along these lines? (I have looked through the BP files, Problem is I dont really know what i'm looking for).

Lastly, Any strategies on how to approach this will be very appreciated.

Thank you!

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