Question on renewing a lease with a pending sale
We have a property that is under contract to sell by 07/09/2025 and has a tenant that has been there for several years and is a solid tenant. Their lease expires at the end of July 2025. We provided leases to the buyer for both units (the other side's lease runs until April 2026).
Question - would you renew the lease (we usually renew the month before) as the tenants want to stay of allow the new owner to determine if a rent increase is desired?
Thanks . . .
Most Popular Reply
I wouldn't do anything without closely reading your sale contract and discussing it with the buyer. They buyer might want to renew or not but it seems fair to let the buyer decide. You contract may specify what you are allowed and not allowed to do regarding leases.