How much to pay tenants to move out

[Matthew Robertson]

Hello BP,

I am going into a deal where I would be converting a duplex into a single family, renovating, then selling.  One of my problems is I have tenants in one side of the duplex that just signed a 1 year lease with the previous owners.

What would be a competitive offer to have them vacate the property early?  I'm thinking 60 days rent free then an additional 3-4 months rent in a lump sum when the property is vacated.  This amount is roughly what i've got allocated into the budget but am willing to negotiate to get this deal done.

A little background...they are paying below market rent in a generally sought after area (East Nash).  The property is by no means impressive and they could find something much better by paying a bit more each month and still be close to everything.  The father is a cook, the mother doesn't work, and they have a small child.

Any rehabbers or investors experience this in the past?