Frequently Asked Questions
Q: What happens if I decide I want to sell while I have a tenant living in the property?
A: If there is a contract in place, it must be honored first and foremost. However, you can try to make a deal with the tenant to see if they would be willing to move out early, perhaps giving them an incentive to do so. But if the tenant chooses not to move, you must honor it until the contract ends. If you still want to sell with a tenant in place, you must disclose upfront that you have a tenant that cannot be kicked out, so most likely you would need to sell to another
investor who is ok with that.
Q: How much notice must the tenant give when they decide they want to vacate?
A: Tenants must give 60 days notice before the end of their lease if they do not want to renew. The same goes for the owner. If the owner chooses not to renew the tenant, 60 days notice must be given to the tenant as well.
Q: What happens if the tenant wants to break their lease?
A: If a tenant needs to break their lease they must first pay the break lease fee. Once that is paid, we will start advertising the property and coordinate showings with the current tenant. The tenant remains responsible for rent and utilities until the day a new renter can move in. This process assures that the home owner will not lose any income during the process.