Buying an occupied property in NJ – lease expires in April

[Tatiana Duarte]

Hello hello! 

I think this is a pretty straight forward question:

I’m looking to buy a condo in a managed building in New Jersey, which is currently occupied by a tenant whose lease expires in April.

-Must they remain in the property until their lease expires?
-Can I pay them to move out? If so, what determines that cost?
-If they stay in the apartment in April and pay rent to me, technically they are breaking their lease- would I owe the current landlord any fees associated with breaking the lease?

Thanks everyone!

[Thomas S.]

"I think this is a pretty straight forward question:"

Simple straightforward answer is that if you are intending to get into this business you must first study and learn all your state specific landlord tenant regulations. 

It is OK to come on a forum for clarification after you study your codes but it is never advisable to ask for advice without first learning the laws  Forum advice is not entirely reliable due to the fact that posts could be from landlords from any state in the country or outside the US and in many cases from individuals that have also never bothered to learn their codes.

Learn the codes in your state then ask for clarification if needed.