Hello BP! Any help would be really appreciated. I am going to sell a rental property in Marin County California...I have a tenant who is in the property and might buy the property when it is on the market. My question/challenge is that her lease expires March 15th and I can give a 30 day notice before Feb 15th because it is less than one year for her tenancy. However, if she is there for at least a year the lease goes month to month and I must give a 60 day notice. She is elderly and said she may need 2-3 more weeks to move out. Can I have her sign an addendum (with a 30 day notice)that allows her to stay longer but gives up her right to a 60 day notice? Should I do a fixed term lease? Any ideas, resources, or suggestions would be awesome! Thanks so much.
From my understanding, every county has different rules. However, what you are saying with the addendum is exactly what I would do and just make sure she has total understanding of it. Tell her it is no form of a lease extension, but more of a curtesy move out period. Confirm with the county court house and I think you should be good.
Thanks a lot Dashon! I appreciate you taking the time to write a response to my question...that confirms what I was thinking. Stay safe in the crazy storms out there now. I look forward to reading your posts etc Take care, Dan
I would check your laws. If your tenant wants to buy the house, I would offer it to her before it hits the market. This would allow you to save rental costs, and the hassler to her. Plus if you have a agent you are going to want to get the higher market value and it might stomp on toes, if she offers and you don't accept. So I "personally" would close the teantn door before you open it to the public! good luck
Join the Largest Real Estate Investing Community
Basic membership is free, forever.