Relocation Payment to Tenants in Oakland CA

[Sai Kopacek]

Hello All,

I am getting ready to sell my loft in Oakland CA in the next few months! First I needed to give my tenants a 60 day notice since they have been living there for over a year. I gave that back in March with a move out date of June 1st. In Oakland, CA they have a relocation payment that has to be paid by landlords to tenants if they are not at fault. In my case I fall in the studio/1 bedroom which comes out to be $6,500! Seems like a lot, but Cali is expensive. 

I wanted to know if there are any other landlords in the Bay Area that have had to pay this payment to their tenants? I also wanted to know if there was anything for them to sign along with this lump sum of money? Last questions, I did read that if the tenant has not lived there 2 years they are only entitled to 2/3's of the $6,500. I tired calling and emailing the Oakland Tenants Union but they wont get back to me.

Any help you all can give will be much appreciated. 

Cheers,

Sai

[Brian Garlington]

I have not had to go through that and I own a duplex in Oakland. i guess that is Oakland's way of saying, if you sell your property and tenants are in it you will literally have to "PAY" to get them out of there. That's another reason I am now supplementing my Bay Area rentals by investing out of state in a more landlord friendly area.