Not renewing inherited tenant's lease

[Eric Luzier]

Hi everyone,

I am soon closing on my first duplex in New Jersey, which I will be house hacking.  One of the units includes a tenant, whose lease ends on March 31st.  After the tenant's lease is up, I plan on moving into that unit, as the other unit will generate more income.  My question is: how do I go about notifying the tenant that I will not be renewing their lease?  Am I required to give a certain number of days notice?  Does this have to be in writing?  I have been searching around for this information, but have only been able to find laws regarding evictions so far.  Any information or insight is greatly appreciated!

[Patricia Steiner]

Eric, please, please, please do NOT close on this property until you have obtained the lease they now have with the current owner and have read it.  It will outline the terms and notice requirements.  Also, google Landlord-Tenant Laws for (your state).  Know them.  And, have you asked the seller for all of the leases and the rent rolls?  Do you have proof that the tenants are paying on time?  Where are the security deposits held?  They will be conveyed to you at closing...amazing how many BP investors discover there were none collected.  

And, have you walked all the units? Seeing how tenants live/respect the units will tell you a lot.  If it doesn't vet, you will want to amend your contract to have the property delivered to you vacant at closing and let the seller deal with making it happen.  Please know everything about everything before you close.