I will be buying the home I am renting from my landlord. Someone elser lives downstairs. How long should I let him live there before I tell him to move out so my best friend can move in downstairs?
2007-08-21 11:51:28 · 5 answers · asked by IhateDan 1 in Business & Finance ➔ Renting & Real Estate
You have to honor any lease agreement. So if he still has 6 months then he still has 6 months.
You also have to follow the lease and local law on how much notice you give him even after the lease has run out.
I would write in the contract that the seller has to evict him before you will close on the sale.
2007-08-21 12:06:24 · answer #1 · answered by glenn 7 · 0⤊ 0⤋
If you buy a house with tenants in it, you are buying subject to the current lease. Is there one? Find out what it is - and make sure the owner transfers any deposits to you. As the new landlord, you'll be responsible for them.
2007-08-21 20:33:12 · answer #2 · answered by teran_realtor 7 · 0⤊ 0⤋
It depends on the terms of the sale. This should be addressed in your sales contract. Are you purchasing subject to lease? Does the current owner's lease agreement have provisions for sale of rental property (most do)? No one can accurately answer your question without additional info. Sorry.
2007-08-21 18:59:19 · answer #3 · answered by CHARITY G 7 · 0⤊ 0⤋
the current owner needs to advise them of the change of ownership. i would give them 90days notice. generally its not required but it would be considerate, especially if theyve been there awhile. i dont know if i would rent to my bf though. its sounds like a good idea but alot can go wrong. be careful!
2007-08-21 19:06:14 · answer #4 · answered by lilmama24 3 · 0⤊ 0⤋
30 day notice
2007-08-21 19:33:17 · answer #5 · answered by VOLLEYBALLY 4 · 0⤊ 0⤋