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Updated about 1 year ago on . Most recent reply

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Charles Schmidt
  • New to Real Estate
  • Denver, CO
26
Votes |
24
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Under contract on my first flip! Need advice on getting tenants out

Charles Schmidt
  • New to Real Estate
  • Denver, CO
Posted

Last week I got a house under contract, and the scheduled closing date is Nov. 20. The numbers look good and the house needs pretty minimal work, so I'm feeling pretty good about the deal in general, but the house is occupied and I'm trying to figure out the best way to get the current tenants out. 

Before submitting an offer I was able to look at their current lease, and it clearly states "The landlord reserves the right to cancel this lease at any time with 30 days written notice." I think I'm fine legal-wise, but I'm not sure exactly what I'm supposed to do logistically. Should I go to the house in person, introduce myself as the new owner, and deliver some sort of written notice? 

I also feel bad because they just moved in on September 24th, and if I give them 30 days then that's right in the middle of the holidays (12/20). I'm thinking about giving them until the end of January to move out, and then maybe a cash incentive if they can get out before Dec. 31. I am using hard money to fund this deal so time is money, but also just trying to be a good human because it seems like a nice family with small kids and I know from experience how much it can suck to get kicked out of your home on short notice. 

Thanks in advance for any advice on this! 

Most Popular Reply

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2,853
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2,492
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Rick Pozos
  • Wholesaler, Rehabber and Landlord
  • San Antonio, TX
2,492
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2,853
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Rick Pozos
  • Wholesaler, Rehabber and Landlord
  • San Antonio, TX
Replied

You probably need to look at that lease again. I dont believe in any state that you can just cancel a lease with 30 day notice. Maybe after the lease finishes, but not in the middle of it. The whole reason for having a lease is that both sides have agreed to the time period of 6 months or a year or whatever.

If the contract does allow you to do that, It would be a very $hitty thing to do to someone who just moved in. They agreed to be there for the lease term and you are going to up end their lives?? Bad move. They are going to be upset and either not pay and stay or not be friendly and cause some damage to the property.

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