Hey BP-I just sold a quadplex and my PM is considering the sale as a termination of the agreement for that property.

Once they have a property under agreement then go shop it to a bunch of lenders to find the best mortgage.

Review their management agreement.

$160,000 appraisal. 5 year rental agreement at $1,600.

Section 47a-23 ofthe Connecticut General Statutes is modified to provide: “(g) Nolandlord of a dwelling unit, and no such landlord’s legal representative,attorney-at-law, or attorney-in-fact, shall, prior to the repeal orexpiration of the public health and civil preparedness emergenciesdescribed herein, deliver or cause to be delivered a notice to quit or serveor return a summary process action, for any reason set forth in thischapter or in sections 21-80 et seq. of the Connecticut General Statutes,except for nonpayment of rent due on or before February 29, 2020, forserious nonpayment of rent as defined herein, for serious nuisance asdefined in section 47a-15 of the Connecticut General Statutes, or, provided the notice to quit is not delivered during the term of anyexisting rental agreement, for a bona fide intention by the landlord touse such dwelling unit as such landlord’s principal residence.

If/when they tell you they need more time tell them that this is not the agreement and that you are filing Monday, if you have already filed what else do you have at your disposal to threaten with. 

Hi BP, I just bought my first STR with two of my close friends/partners and I wanted to put a partnership agreement together to protect us in the case of someone wanting to exist or if an unforeseen event comes up.

If they are on a month-to-month rental agreement, give them 30 days notice (or whatever your state requires) and get rid of them.

Also the good thing is that your tenants are month to month and if it don’t work out you can tell them that you will not renew there leases and you can start fresh with your new lease agreements with new tenants.

Does your management agreement address this?