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Updated over 5 years ago,
Tenant-Occupied Residential Sale--HELP!
Hello,
About early March before our yearly lease was up, my tenant informed us that she'd like to go month-to-month because she wants to move to another school district. I thanked her for her honesty & let her know that is fine with us BUT the house would be going on the market. Her father, who lived at the property with her for the first year of the lease but no longer lives at the residence, is a realtor so against our better judgement we gave him the opportunity to "bid" on the listing. We decided not to go with him because, not only did we not have the best interaction with him when he lived in the house, we felt he wouldn't operate with our best interest in mind considering that his daughter lives in the house. I'm sure he isn't happy that we didn't go with him as the listing agent.
Fast forward, yesterday with A LOT of notice our hired realtor showed up at the house to get a key from my tenant for showings. Her father was there and apparently made several derogatory comments about the property to my realtor and even commented about what kind of buyers would not be a good fit for the house. I have a good relationship with his daughter, my tenant, but I am honestly afraid he is going to compromise any potential sales. I don't know what he's capable of. He lives very close by and could show up at showings for all I know.
What would you do? The property is in Illinois, so we are aware we should give at least 30 days written notice to terminate the lease. Is there any benefit for letting the tenant reside there until we have a contract OR would you initiate termination ASAP to mitigate any potential marketing/sale conflicts with the tenant/tenant's family? I have had a great relationship with the tenant herself for the last three years so I would hate for this to go downhill. She is actively looking for a rental and has been for a few weeks. Please advise! Thank you.