All Forum Posts by: Sridhar D.

Thank you all for the very valuable feedback. Based on all of your suggestions I decided to simply advertise the unit as an anticipated vacancy and mention in the ad that I can only show the place starting 07/01 and that it is available to rent anytime after that. I would rather absorb the loss of rent than deal with any more passive aggressiveness from the current tenants and lose out on good leads as a result of that.

I really appreciate each of you for taking the time and clarifying things for me.

I have a tenant who has given notice to move out on June 30, 2024. He has agreed to facilitate showings for prospective tenants. However, every time a showing is scheduled the place is so messy that it is impossible to get inside without tripping or potential injury. The place smells bad and there is barely any space to walk. This tenant has been whiny and difficult from the start and I feel like he is doing this to jeopardize showings. 

Is there anything I can do within my rights to address this situation amicably? I don't want to ruffle his feathers and can't wait for him to leave. There has been a lot of interest since I released the ad but people coming for the showings are hugely turned off by the condition of the unit. The unit was newly renovated and looked amazing when it was rented out last year. 

Thanks to everyone for your valuable input. It helped clarify things a lot for me. I think I got all the information and more from this thread. 

@Michael Smythe. As I had mentioned earlier, the tenant is willing to buy after the lease ends in an year. I can't force him to buy the house today :). I plan to do a 1031 exchange to avoid capital gains.

@Caleb Brown. Yes he can. I am not planning to provide any financing.

@Michael Smythe. Thanks for the response. 

what are you hoping to accomplish? "to make it ironclad ?"

All I want to do is to not leave any obvious loopholes. 

Are you planning to force the tenant to buy the property?

No. The tenant has expressed interest to buy the property when the lease ends next year. I was wondering if I could enter into an agreement with the tenant today. 

I am looking to sell my investment property to my renter after 12 months. I want to know if a sale agreement offering the buyer (renter) the option to buy the home after 12 months a valid/legal contract in the state of Michigan. If legal, is there anything specific that I need to include in the agreement other than the sale date and sale price to make it ironclad ? I will certainly hire a real estate lawyer to draw up the contract but I was hoping to get some advice from the knowledgeable folks in the forum.