How do I amend existing lease because I'm selling property

Question

Hey,

I'm in Florida (Orange County) and I have two really good tenants in my property that I must short sell.  The lease expires in November, but I need to get them on a month to month lease.  The home gets listed tomorrow, the Realtor and I met with the the tenants to tell them what is going on.  I'm in the middle of a formal letter that I will send certified mail, but I also want to amend the original lease term from a fixed 12-months to a month-to-month lease and also tell them I will give them 60 days notice to vacate once the house is under contract and the bid is being reviewed by the bank.

Does anybody have a form I can use or advice as make this a smooth process?

Thanks!

Account Closed · Answer

As stated abouve, you can't change the lease.

Unless, that is, the tenant agrees.

This is what I would do. I'd tell them that I need to sell and ask if they would agree to convert to a month to month, and I would reduce their rent by an attractive amount to make it worth their while.

If they agree, all you need to do is to sign an addendum that says the lease is being converted to a month to month, with the same terms, except the rent is now $XXX and either tenant or landlord can give  a30 day notice to vacate.

As with any contract, you really should consult with your own lawyer.

It's a lot easier to sell a vacant house, so if they decide to move out, make it easy for them to go.

Michael Rossi · Answer

That's right, the lease normally survives the sale.  You might be able to pay them to leave or offer to pay their moving expenses in addition to returning their security deposit.

Good Luck,

Mike

Tom Sylvester · Answer

Unless the tenant agrees to such a request, I don't believe you can amend it.  You signed a contract to rent the property to them for the term on the lease.