Hello Bigger Pockets Community,
I have recently acquired a large residential home split into a top and bottom floor units. I would like to move into the top floor and have the bottom floor rented out. I was wondering if there was anything required to do to let the top floor tenant know that they cannot release. This tenants existing lease that came with the property ends next march 2021. I also currently live in the state of Wisconsin, USA.
The answer may be in the current lease @Jonathan Kahnke , a contract which follows the tenants regardless of owner. There is usually language about a 30 or 60 day notice, in regards to lease renewal, or how it might roll into month to month terms upon completion of the original term. The lease will guide your actions. Then check your local rules, as some cities favor tenants' rights and their housing laws reflect this. If there is nothing, you can do what ever you want when the lease obligations are fulfilled, in March of 2021. As a courtesy, letting them know 60 days in advance is always appreciated. This is done in writing. If they acknowledge their move-out date, your records will be complete.
You didn't mention though, do you want to take possession early? This would be a different discussion.
@Kathy Henley Hello,
Thank you for the response it was extremely helpful, I do not intend to take possession early.
@Jonathan Kahnke welcome to Wisconsin! Unless stipulated otherwise in the lease you will need a 28 day notice, which terminates the lease at the end of the following month.
Here is a link to a Wisconsin Landlord Tenant Guide by the Department of Consumer Protection.
In terms of legal notices, leases and other forms you need I would recommend Wisconsin Legal Blank, you can either order online or download the forms.