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Updated over 3 years ago,

User Stats

447
Posts
63
Votes
Peter Morgan
  • Rental Property Investor
  • West Des Moines, IA
63
Votes |
447
Posts

Should I tell my prospective tenants that I am planning to sell?

Peter Morgan
  • Rental Property Investor
  • West Des Moines, IA
Posted

Hello,

I am considering selling my owner-occupied multifamily home as I need to move OOS due to a job change but I am not too sure when I will sell and odds are I may not sell. To quantify there is a 75% chance I will sell and 25% chance I may not sell. I am more inclined towards selling because I find managing from OOS will be a big hassle.

I am also currently vetting prospective tenants to fill in the vacant apartment and already received several applications. I am confused on whether I should upfront tell my prospective tenants that I am planning to sell? How do I script a clause in lease to safely handoff my property and tenants to the new property owner? Appreciate your inputs.

Thanks

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