Hello BP Community!
I'm a few days away from closing on my first property! So excited to get my feet wet in the game and hit my goals.
I bought the property with an FHA loan, and need to end the month-to-month lease on one of the units (it's a duplex) in order for me to move-in. I'm not sure on how much notice they need, but I think in Arizona it's 30 days (I'll need to verify).
What's the process in doing this? Should I let the tenant know right after or before I leave (arrive at) the closing table? How do I formally end the lease? Is a standard written notice ok? Thanks in advance guys!
@Naftali Tolibas Congratulations on your first purchase!
1. What does the actual lease stipulate for notice?
2. AZ typically calls for a 30-day notice to be given at least 30 days before the next renewal. Renewal being the next time rent is due on a month to month.
3. I would give the notice via Certified Mail with a return receipt.
On a side note make sure you have all lease documents and that the deposits etc are dealt with at closing. Notice will need to be given to the Tenants of the change in ownership also.
Thanks @Doug McVinua . Yeah it says a 30 day notice on the lease, however the seller is going to notify before closing I guess.
For the notice, would that be done by me after closing? Or will it be taken care of by the title or seller at closing?
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