Selling home
Click here for Top Ten Discussions. CLICK HERE for Q & A Homepage
Receive Free Rental Owner Updates Email:  
MrLandlord Q & A
     
     
Selling home (by Berta [CA]) Jun 22, 2017 2:15 PM
       Selling home (by Landlord ofthe Flies [TX]) Jun 22, 2017 2:34 PM
       Selling home (by Landlord ofthe Flies [TX]) Jun 22, 2017 2:35 PM
       Selling home (by Barb [MO]) Jun 22, 2017 3:12 PM
       Selling home (by Berta [CA]) Jun 22, 2017 3:49 PM
       Selling home (by Jim in O C [CA]) Jun 22, 2017 4:44 PM
       Selling home (by Jim in O C [CA]) Jun 22, 2017 4:46 PM
       Selling home (by plenty [MO]) Jun 22, 2017 5:19 PM
       Selling home (by rick [NJ]) Jun 22, 2017 5:42 PM
       Selling home (by Berta [CA]) Jun 22, 2017 6:18 PM
       Selling home (by Lynda [TX]) Jun 22, 2017 6:18 PM
       Selling home (by Sandra [AZ]) Jun 22, 2017 7:00 PM
       Selling home (by TA [CA]) Jun 23, 2017 12:25 AM
       Selling home (by Berta [CA]) Jun 23, 2017 2:28 PM
       Selling home (by Robin [WI]) Jun 23, 2017 3:42 PM


Selling home (by Berta [CA]) Posted on: Jun 22, 2017 2:15 PM
Message:

Hello,

I want to sell my rental home in Oakland, CA. It is currently rented with the lease expiring in 4/1/18. My tenant is great, and pays on time. She's rented since 2011. The RE agent says I can ask her to leave when the lease is up, but she doesn't have to. I don't want to jack up the rent, I WANT TO SELL MY OWN PROPERTY.

If she refuses to leave (which I just can't imagine, she's a nice person), but if this does happen, they're telling me to offer her money to leave and or pay her relocation expenses...isn't that just crazy???? Has anyone run into this kind of situation?

--23.119.xxx.xxx




Selling home (by Landlord ofthe Flies [TX]) Posted on: Jun 22, 2017 2:34 PM
Message:

If the lease expires in April, then let her know you do not intend to renew in April. Give her a few months extra to make preparations. She will have no legal right to stay if you don't renew lease or sign a new one.

If you want her out earlier, then talk with tenant and see if you can come up with a mutually beneficial arrangement. --108.69.xxx.xxx




Selling home (by Landlord ofthe Flies [TX]) Posted on: Jun 22, 2017 2:35 PM
Message:

I also strongly suggest you tell the agent to stay out of it. You need to handle this. --108.69.xxx.xxx




Selling home (by Barb [MO]) Posted on: Jun 22, 2017 3:12 PM
Message:

Have you considered selling it with her in it to an investor? Is she interested in buying it? Have you asked her?

You have the right to sell it any time you want. You can start by saying to her, I don't want to own this home any longer. It is worth $$$$$$$. (Get an appraisal so you know). I'd like to give you the opportunity to purchase it first at (value minus 10%) if you are interest in doing so by (set a date).

If she says no, then find a real estate agent that sells rental property. List it for sale with her in it. If the new owner is an investor, he/she will understand that the tenant has until the end of the current lease no matter what.

In this case, be prepared to sell for much less than the appraised value. It will, however, allow you to collect your sales proceeds and walk away - hopefully without paying anything out of pocket. --64.251.xxx.xxx




Selling home (by Berta [CA]) Posted on: Jun 22, 2017 3:49 PM
Message:

She couldn't afford the house. In California, especially in the Bay Area home prices are crazy. My plan is to talk to her around November. Let her know my intentions. I'm hoping she won't put up a fuss. Like I said, she's a nice person. Homes sell much better empty. No staging. I have a lot of work to do with this house before selling. New floors for one. I can't have anyone in the house to do this work. Also structural, perhaps foundation work.

I couldn't believe when the agent told me she doesn't have to move out. I asked another organization that specializes in rentals and they said the same thing. Oakland has very strict laws which favor tenants. Nuts! --23.119.xxx.xxx




Selling home (by Jim in O C [CA]) Posted on: Jun 22, 2017 4:44 PM
Message:

You need a better agent. The required notice is 60 days but you can let her know 120 days out so she can start looking. Follow current laws with a notice two weeks prior for an inspection with her present to identify damages and repairs she must make that are not normal wear and tear. --108.196.xxx.xxx




Selling home (by Jim in O C [CA]) Posted on: Jun 22, 2017 4:46 PM
Message:

PS: Because you are in Oakland maybe you should contact a landlord attorney. --108.196.xxx.xxx




Selling home (by plenty [MO]) Posted on: Jun 22, 2017 5:19 PM
Message:

You wrote you want to sell your own property... Do you mean without an Agent? --66.87.xx.xxx




Selling home (by rick [NJ]) Posted on: Jun 22, 2017 5:42 PM
Message:

Nj is also a "just cause " But at least allows a LL to not renew a lease if its sold. I would speak with a lawyer,

#11 talks about the Ellis Act which allows a LL to end the lease if the LL intends to get out of the business, in my lay opinion selling the house you are getting out of the business, I am sure there is case law

What are the just causes for eviction in Oakland?

Under the Oakland Just Cause for Eviction Ordinance, a landlord may only evict for the following eleven reasons:

1. Failure to pay rent;

2. Breach of lease;

3. Failure to sign a lease extension that is materially the same as the original lease;

4. Willful and substantial damage to the premises beyond normal wear and tear;

5. Disorderly conduct that destroys the peace and quiet of other tenants;

6. Use of the premises for an illegal purpose including the manufacture, sale, or use of illegal drugs;

7. Continued denial of landlord access in violation of Civil Code section 1954;

8. The owner of record seeks in good faith, without ulterior reasons and with honest intent, to recover possession of the rental unit for his or her occupancy as a principal residence where he or she has previously occupied the rental unit as his or her principal residence and has the right to recover possession for his or her occupancy as a principal residence under a written rental agreement with the current tenants;

9. The owner of record seeks in good faith, without ulterior reasons and with honest intent, to recover possession for his or her own use and occupancy as his or her principal residence, or for the use and occupancy as a principal residence by the owner of record’s spouse, domestic partner, child, parent, or grandparent;

10. Temporary relocation for three months for substantial repairs; and

11. The owner of record seeks to permanently remove the unit from the housing market (also known as an Ellis Act eviction). --73.197.xxx.xx




Selling home (by Berta [CA]) Posted on: Jun 22, 2017 6:18 PM
Message:

No, I'd be selling the home through an RE agent.

Thanks everyone!!

--23.119.xxx.xxx




Selling home (by Lynda [TX]) Posted on: Jun 22, 2017 6:18 PM
Message:

Berta, lots to absorb here, but basically the lease stays with the house--no matter who owns it. You can put it on the market anytime if the tenant will cooperate with showings. But the lease has to be honored by the new buyer. So selling to a family that wants to move in won't work at this time. She signed a contact with you in good faith and you have to honor that.

You have many options:

-market now and sell to an investor

-market now and sell to a family who is willing to wait till the lease ends

-help the tenant find a similar property to rent, and help her move, then market

-encourage the tenant to move by paying her--making it worth her while

-wait till early next year to market with occupation after tenant leaves in April

I know none of these is your first choice. How fast you can sell depends on your local market and how desperate you are to sell. Even tho it doesn't seem like it, one of these options may work for you. --108.87.xx.xxx




Selling home (by Sandra [AZ]) Posted on: Jun 22, 2017 7:00 PM
Message:

Berta, would you consider selling to an investor? Also, is the home under rent control? --76.100.xxx.xxx




Selling home (by TA [CA]) Posted on: Jun 23, 2017 12:25 AM
Message:

Single family homes are still covered under just cause in Oakland. So your agent is correct in that you will not be able to terminate the residency unilaterally. They are not covered under rent control. You can raise the rent up to 10% with just 30 days notice, or 60 days notice for over 10% once the lease is over. You can offer cash for keys even before the lease is up or sell to an investor with the tenant in place. You can wait until it is closer till the lease is over and sell it for more. Let the new owners deal with either an owner move in eviction, raising the rent to make them move, or just as an investor. --73.241.xxx.xxx




Selling home (by Berta [CA]) Posted on: Jun 23, 2017 2:28 PM
Message:

I'm planning on honoring the lease. Oakland has strict rent control. You can only raise the rent 2% per yr and there's a schedule. I just don't want to be a landlord. Worrying about an earthquake, then I'm screwed....I'm planning on selling it when she moves. The house needs to be completely empty, since I will need an inspection. I wouldn't sell to an investor. Put it on the market, and see what happens. --23.119.xxx.xxx




Selling home (by Robin [WI]) Posted on: Jun 23, 2017 3:42 PM
Message:

Tell the resident that you're not going to renew the lease in April and you'll be happy to let her out early if she finds another place. Then start the foundation work now. Make sure it involves a jackhammer and the work is mostly done when she's at home. :) --204.210.xxx.xxx





Reply:
Subject: RE: Selling home
Your Name:
Your State:

Message:
Selling home
Would you like to be notified via email when somebody replies to this thread?
If so, you must include your valid email address here. Do not add your address more than once per thread/subject. By entering your email address here, you agree to receive notification from Mrlandlord.com every time anyone replies to "this" thread. You will receive response notifications for up to one week following the original post. Your email address will not be visible to readers.
Email Address: