General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 6 years ago,
Seller not meeting sales agreement of tenant eviction.
What are my options? We are due to close in 2 days and the law states the tenant needs 60-day notice to increase rent or evict tenants. Seller did not see that part of our offer requiring them to evict tenants prior to closing and never gave notice to evict. The broker is saying to just give notice right when we close and collect rent in the meantime. We never met the tenants officially since we were not planning on dealing with them. Rent is currently below market and we had plans to renovate after closing so we could increase rent. Any advice would be appreciated.