All Forum Posts by: Chris L.

The house is likely to be knocked down or, possibly, a move in but I do not believe someone would buy it as a rental. The house is old but in good shape;however, there are tons of new duplexes around that are much newer. I would most definitely say it's going to be bought by a builder and knocked down. Is it difficult to sell a house to a builder or other when you have a tenant in there on a month to month? I'm assuming that whoever buys it will raise the rent significantly because it's under market value right now. Just not sure of the best way to handle this. 

In NJ, you can't terminate a lease simply because you are selling the property. You either have to raise the rent and they have to refuse to pay the new rent or they have to have violated the lease in some way. You can't simply send a notice that their lease is up in a month-even if it's a one month lease. It's nutty, so I thought I would offer an incentive to move. The tenant originally had a year lease which I never renewed. When you dont renew a lease it automatically becomes a month to month lease. 

I have heard of folks offering an incentive to have a tenant to move out. I will be selling my property in a couple months and my tenant is on a month to month lease. A landlord can't ask a tenant to move out just because they are selling but I was wondering if I could offer an incentive that may motivate a tenant to move out. I would prefer to sell the property without a tenant so that my buyer pool is larger. Also, the house is in a tear down area with duplexes going up left and right so I'm assuming a builder will want to buy it. My questions are as follows:

1) Is it legal to offer a tenant an incentive to move out?

2) How does this typically work? Do you simply email the tenant and say Ihave a proposition. If you move out by x date I will offer you x dollars...OR do you say that you will offer them x dollars if they move out by x date but you must let me know 4 weeks prior in writing if you have Decided to move out by x date?

3) For those of you that have done this, how did your tenants respond? Did they try to get more out of you? Once they knew that you would benefit from their moving out did they try to up the incentive?

4) How did you decide how much to offer them as an incentive?

Thank you for your input! 

I have heard of folksoffering an incentive to have a tenant to move out. I will be selling my property in NJ in a couple months and my tenant is on a month to month lease. A landlord can't ask a tenant to move out just because they are selling but I was wondering if I could offer an incentive that may motivate a tenant to move out. I would just like to sell the house without a tenant in place so that my buyer pool is larger. My questions are as follows:

1) Is it legal to offer a tenant an incentive to move out? I told the tenant she didn't have to move out because she doesnt; however,I want to offer her this option

2) How does this typically work?  Do you simply email the tenant and say Ihave a proposition. If you move out by x date I will offer you x dollars...OR do you say that you will offer them x dollars if they move out by x date but you must let me know 4 weeks prior in writing if you have Decided to move out by x date? 

3) For those of you that have done this, how did your tenants respond? Did they try to get more out of you? Once they knew that you would benefit from their moving out did they try to up the incentive?  

4) How did you decide what to offer them as an incentive?

Thank you for your input! 

Hi Denise,

I, too,am looking to invest in Durham and the Triangle area as I now reside in the area. Have you found any specific resources helpful?

Hi there,

I am looking to invest in rental properties in the Durham/Triangle area.  Is there a specific area in Durham or elsewhere that you would recommend investing in and is there a specific type of property that would provide the most income?  Are there other areas or investments you would recommend in the area?  Selling a house in NJ and looking to invest funds here. 

The property is in NJ Tim Pagano#   From what I have heard and read, one can not evict a tenant simply because they are selling the property. You can inform them you will be selling but you can't force them out. There are certain terms where a lease can be terminated-not paying rent, unwilling to pay rent increase...etc. It seems that all I can do is provide notice that I will be selling and hope that they will want to vacate prior of their own accord. 

I have a rental property in NJ that I may be selling and I would like to know if anyone has answers to the following questions:

1. I have heard from attorneys and realtors that you can not ask a tenant to leave simply because you are selling your property. That if you sell and the buyer wants to move in then they could ask the tenant to vacate.  If I were to sell the home to a builder and the home has a tenant in it that is month to month-original lease expired 2 years ago-what then happens with the tenant?   Will a builder even buy a home with a tenant in it? Is it difficult to sell a property to a builder when you have a tenant in the house?

2. For those that have sold a home with a tenant, did you notify the tenant in advance that you would be selling the home and are there any incentives you have used to encourage a tenant to move out prior to selling? I have heard that some folks pay the tenant a fee to leave early; however, I am not sure if that's legit or if paperwork would need to be written up to do that. Any input would be appreciated. 

3. I would really like to have the tenant vacate prior to selling; however, it seems that the laws in NJ does not allow a landlord to ask a tenant to vacate simply because they are going to sell. If anyone has any ideas or knows what my options are please share.

Thank you

I may be selling my property in NJ and would like to know if there is a specific document/form one can use to inform a tenant they need to move out because you will be selling the property. Is there a website I can go to download such a form or to access information about this?

I will be selling my property and I would like the tenant to move out. She is presently on a month to month lease. How much notice do I have to give my tenant? I was going to give her 45days notice. Also, can I email her a notice as well as mail one?