Should or should not inform my tenants that I am selling

[David Stefanovic]

Hi, my wife and I currently own 2 condos with very good tenants with leases that expire later this year. We are looking to sell both condos in the very near future to pay off debt on other investment properties we have. The tenants we have are very good and would be ideal for another investor to take ownership. However, should we or should we not tell our tenants that we are selling our condos? In the event that we can not sell our condos to another investor, we don't want to scare away our tenants in not renewing their leases for another year as they have comfort knowing that we will be renewing their leases as long as we own the condos. Looking for opinions?

[Account Closed]

I'm pretty sure they will figure it out when you start showing it. Every time I have a rental that goes up for sale, the tenants start looking for a new place. So, you can bet that they will vacate not too long after they find out you are selling.