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Updated almost 11 years ago on . Most recent reply

Peter Fokas's profile image
Peter Fokas's profile image
Peter Fokas
  • Investor
  • from Ridgewood, New Jersey
  • Member since Nov 12, 2012
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Peter Fokas's profile image
Peter Fokas's profile image
Peter Fokas
  • Investor
  • from Ridgewood, New Jersey
  • Member since Nov 12, 2012
Connect
Peter Fokas
  • Investor
  • Ridgewood, NJ
10
Votes |
113
Posts
General Landlording & Rental Properties

How to convert MTM tenants to annual leases?

Peter Fokas
  • Investor
  • Ridgewood, NJ
Posted

The seller of the building I purchased a few months back had most of the tenants on a month to month agreement (no actual paper agreement). I want to convert them all to annual leases. What are the appropriate steps to take. This is in Newark, NJ. Can I just provide them new annual lease agreement and tell them they have 30 days to comply or move?
Do I need to give them any written notification prior to providing them new lease?

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