Relocation Payment to Tenants in Oakland CA

[Sai Kopacek]

Hello All,

I am getting ready to sell my loft in Oakland CA in the next few months! First I needed to give my tenants a 60 day notice since they have been living there for over a year. I gave that back in March with a move out date of June 1st. In Oakland, CA they have a relocation payment that has to be paid by landlords to tenants if they are not at fault. In my case I fall in the studio/1 bedroom which comes out to be $6,500! Seems like a lot, but Cali is expensive. 

I wanted to know if there are any other landlords in the Bay Area that have had to pay this payment to their tenants? I also wanted to know if there was anything for them to sign along with this lump sum of money? Last questions, I did read that if the tenant has not lived there 2 years they are only entitled to 2/3's of the $6,500. I tired calling and emailing the Oakland Tenants Union but they wont get back to me.

Any help you all can give will be much appreciated. 

Cheers,

Sai