Bought a multi-family investment property

[Anne Lewis]

I am in the process of buying a 3 family home in a college town that I am extremely familiar with. I have done more homework than you can imagine, including reviewing 100 years worth of documents through an OPRA request (which I suggest anyone does who buys investment property). My issue is that I want to live in one of the Units that is currently rented out for 11 more months. The current tenants have known for over 10 months that the house is on the market as buyers have visited the house frequently. I thought I read somewhere about NJ tenant law where if the multi-family house is becoming owner occupied then the tenant has 30 days to leave the Unit. I find it hard to believe I wouldn't be able to move into my own home. Anyway, in case I cannot, I was thinking of offering the tenants up to $2,000 and give them 60 days to move. I think this is fair. As some color the tenants are illegal immigrants so I would think they don't want to cause trouble.

[Brian Van Pelt]

@Anne Lewis

First off as a Landlord your last sentence could possibly land you in serious hot water and a lawsuit from either the Tenants,The NJ real estate board (whether you are a Realtor or not), The State of NJ and possible the Federal Govt. (I highly recommend you modify it or remove it entirely)

Anyone offering advice based on your post could also land them in trouble based on your last sentence.

FYI for everyone else. OPRA (Open Public Records Act)  is a NJ law, and may not be available in all states.