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Buying & Selling Real Estate

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Vlad B.
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Issues S8 Tenant Eviction for Property Sale

Vlad B.
Posted May 28 2024, 17:49

Hi BP Community, need your advice.
I'm closing in on my property sale in early June. One of the stipulations for the sale was to provide effort to remove 2 problem tenants in the building. One tenant was removed and the last tenant is S8. My PM put in a 60 day to vacate notice and the HUD tenant never moved out. Tenant promised she was moving 2 days ago. Tenant is saying new apartment isn't ready until the end of June. Terms were not to turn the units and leave them vacant for the new owner.

If this tenant doesn't move out, I risk postponing the close date, and losing money on the mortgage every month this situation drags on. Buyer's agent suggested "Cash to move out" but I'm not exactly sure how that matters if the tenant is HUD and needs a new HUD apt. HUD tenant's rent is under rented by $500 per month and HUD re-evaluated her unit and lowered the HUD payment by $7 per month. If they were paying market rent, things may be slightly more palatable.

How can I get this moving with the buyer so that I can sell the unit in June? 

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Theresa Harris
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#2 General Landlording & Rental Properties Contributor
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Theresa Harris
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#2 General Landlording & Rental Properties Contributor
Replied May 28 2024, 18:01

If they signed paperwork saying they'd be out, then it is up to them to be out and find alternate housing.  Perhaps they can stay with a few friends.  Offer to pay for 1 month to store their items at a storage faculty and provide money for a moving truck to get their items to the storage facility.  Make sure the unit is in their name, so if they don't move their stuff out, they are responsible for the bill.