 TENANT BUYING HOME (by MARCUS [NJ]) Aug 16, 2011 8:13 AM
 TENANT BUYING HOME (by NE [PA]) Aug 16, 2011 9:56 AM
TENANT BUYING HOME (by RentsDue [MA]) Aug 16, 2011 9:59 AM
TENANT BUYING HOME (by Mike45 [NV]) Aug 16, 2011 11:34 AM
TENANT BUYING HOME (by ctlandlord [CT]) Aug 16, 2011 1:55 PM
TENANT BUYING HOME (by Pattyk [MO]) Aug 16, 2011 2:20 PM
TENANT BUYING HOME (by jawja [GA]) Aug 16, 2011 6:27 PM
TENANT BUYING HOME (by BRAD 20,000 [IN]) Aug 16, 2011 8:31 PM
TENANT BUYING HOME (by MARCUS [NJ]) Posted on: Aug 16, 2011 8:13 AM
Message:
State Specific Question About: NEW JERSEY (NJ)
My tenant's lease expires on August 31. They gave me verbal notice that they will be buying a house and closing on August 29th and therefore not renewing their lease. I have a new applicant ready to move in on September 1st. Now the the current tenants can't confirm the closing date until they hear from their lawyer. I can't committ to the new tenants until I know for sure that the apartment will be available. How can I force the current tenants to give me a concrete answer on their intentions. They may close on the 29th and move, but by that time they prospective new tenants will have found another apartment to rent. What can I do? --74.73.xxx.xxx |
TENANT BUYING HOME (by NE [PA]) Posted on: Aug 16, 2011 9:56 AM
Message:
I would get a signed move out notice from them specifying the date. You are leaving a very narrow window for the tenants to leave and new ones to come in. Remind the current tenants that if they are not out by specified date, you will have to start an eviction. Blame it on the non-renewal of the lease. TELL THE NEW TENANTS NOW THAT IT MAY BE A FEW DAYS BEFORE THEY CAN GET IN! remind the current tenants that almost all of your tenants get their security deposits back because they leave the place sparkling clean. Offer $100 if the place is immaculate at move-out. Money is a good motivator. --184.8.xxx.xxx |
TENANT BUYING HOME (by RentsDue [MA]) Posted on: Aug 16, 2011 9:59 AM
Message:
Been in the same situation several times this year. Explain to the tenant that "maybe" isn't notice. If they are leaving the 29th and are paid up until then...that is the termination of their tenancy.Let them know you have another tenant ready.If they are unsure, they are welcome to pay for another month. Closings can change. No reason they can't load their stuff into a PODS unit and get a cheap hotel if it takes a few more days. That is what you or I would have to do. --66.189.xxx.xxx |
TENANT BUYING HOME (by Mike45 [NV]) Posted on: Aug 16, 2011 11:34 AM
Message:
There is NOTHING that I know of that you can do to force the existing tenants out on Aug 29. If they don't leave by Aug 31, you can start an eviction -- give them __ Days Notice on Sept 1, file the eviction lawsuit on Sept __, and maybe get a writ of possession a few weeks or months [in N.J., I bet it is months!] later. Actually, you might not have to give any notice, because they gave a notice of termiation -- you might be able to file the eviction on Sept 1. But you are still screwed.
I don't rent a place out before it is vacant. I know too well that no tenant can be counted on to actually vacate the place when promised, and that I do not know the condition that a place will be in when it is vacated. Even the cleanest and best tenant might hire movers who put a hole in the wall or smash a lighting fixture or knock down a ceiling fan or ... as they move things out.
--216.240.xx.xxx |
TENANT BUYING HOME (by ctlandlord [CT]) Posted on: Aug 16, 2011 1:55 PM
Message:
all of the above sounds good, but I would also do a walk through now and make plans for what needs to be relplaced. ie bathvaniety or something else that you might have to order. get painters lined up . this is very late in the month not to have a firm close date. --99.20.xx.xxx |
TENANT BUYING HOME (by Pattyk [MO]) Posted on: Aug 16, 2011 2:20 PM
Message:
where I live, the current tenant's rent would double. Enough to make them move.
Remind the current tenant that they gave notice and they can move regardless if they are closed or not on the home they are purchasing. They can and should move, them closing is not your business, your business is getting your house back, so the next tenant can move it. THey can move in their things into storage, sleep with family, hotel, whatever, they do not need to stay in your home as they have given notice. Just my 2cents worth. --174.158.x.xx |
TENANT BUYING HOME (by jawja [GA]) Posted on: Aug 16, 2011 6:27 PM
Message:
do you have a holdover clause in your lease stating that rent per day is increased for every day they are not out after the end of their lease? if so, remind them of it.
Be nice, they can't help that the closing is in limbo. but suggest that they consider a lease agreement with sellers of their new house- if closing doesnt happen on time, they move anyway and pay sellers rent till the closing happens. If it's so close to really going through, that should be an option.
And you should have a clause in your new lease that states that you have up to seven or ten days to give possession after the new lease starts. you should accommodate the new tenants somehow IF the old tenants are not out, but a possession clause could keep the lease in place even if there is a few days' holdover. And tell the new tenants nicely that there is a slim chance closing could be delayed ... but you don't expect that to happen. --76.17.xx.xx |
TENANT BUYING HOME (by BRAD 20,000 [IN]) Posted on: Aug 16, 2011 8:31 PM
Message:
Good advice so far. I say work it out with both parties and see how things progress.
The move in date may not be critical. Find out. Has new tenant signed the lease AND paid deposit, first month, all non-refundable? or are they a "really good prospect" who could still rent somewhere else even if you get the old one out on time?
Seldom is the move-in date critical. Sometimes they don't move in for WEEKS after we give the keys.
The closing can happen suddenly. So they get possession of the new place at closing?
Jeffrey would say something like give them a bonus to get out on time.
this is how LLing works sometimes. Yo might have to find a different tenant.
We ALWAYS keep marketing and screening until the lease is signed and the money is in the bank. --50.129.xxx.xxx |
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