Updated over 6 years ago on . Most recent reply
Existing Tenant Question
Hello BP'ers!
I'm writing an offer on a SFH that has an existing month to month tenant. Because the rent is well below market and I'll need to reno interior I plan on making the offer contingent on vacancy. The seller said that the lease ends at the end of September and with 30 days notice they will vacate by the end of October.
My question is timing of rehab and liability. Can I begin exterior work during the 30 days after I obtain posession? I also assume I am liable for the tenant after I obtain possession. This puts me in the awkward position to have to communicate with the tenant that I'm essentially evicting.
Can I incentivize the tenant to vacate earlier? Example - $1000 to the tenant if the vacate by end of September.
Any advise will be helpful.
Most Popular Reply
#3 Managing Your Property Contributor
@Matt Hudson You aren't evicting them. The owner is selling the house and they need to move. Once you get possession, let them know you will be doing exterior work. Keep them apprised of your schedule and make sure the workers aren't there super early in the morning. If they know they have to move in Oct, they may decide to move early.
If they will be your tenants for a month, make sure you have a copy of the lease, the move in inspection, the deposit and prorated rent. The tenants also need to know who to pay the Oct rent to. Also get a copy of the letter stating that they will be leaving at the end of Oct.