All Forum Posts by: Jason Howard Marden

Thank you, Chris. That was the approach we were planning on. Am I able to demand a down payment as well? I'm not trying to be greedy, but I want to have some liquidity and I want the buyer / tenant to have considerable skin in the game. 

Thanks for the input, Elliott. The property is paid off. We discussed the lease to own option but would prefer to carry the note for 3 to 5 years and then have the buyer switch to conventional financing. 

We are in San Diego. Recently, the city passed new tenant "protection" laws. If you are planning a no fault eviction, you must pay your tenant the equivalent of two months rent as a relocation assistance benefit. If the tenant is over 65, the payment is 3 months rent.

https://www.goodlifemgmt.com/blog/new-tenant-protection-laws/#:~:text=With%20the%20new%20San%20Diego%20tenant%20protection%20laws%2C%20landlords%20will,days%20of%20their%20eviction%20notice.

We are beginning the process of moving out of state. We are considering the possibility of carrying the note so that our current tenant can buy one of our rentals. We have no experience with this process. Can anyone direct us to a good resource? We have a good relationship with the tenant and want to give her the opportunity to stay in the home. Also...... we don't want to get into the San Diego tenant ordinances! 

I wanted to thank everyone for the valuable advice and insight. We have a path to follow now.

Correct. We are concerned about any liability that may be attributed to us 

We have a tenant who is running an unlicensed daycare. Do we incur any liability? There is no exclusion in our rental agreement.