Obligation To Renters If I Want To Show And Eventually Sell Property?
I hаνе a condo οn thе market - nοt selling. Hаνе someone interested іn renting іt. Whаt ѕhουƖԁ bе written іntο thе lease agreement considering I want tο continue tο ѕhοw іt аnԁ tο sell іf I ɡеt a buyer.
Be sure you know the laws in your state first as to what is required and what you can write into a rental agreement that will be enforceable, and what you can do if they don’t follow it. There are many different problems in some states you can get into.
Do not rent to them if their credit is bad, and get references from past land lords (home owners looking to buy a home in the near future are usually pretty good bets though, but do all the checks for them too) and do check them out closely. Do talk to them, and don’t rent to them if they are not clean, but also don’t rent to them if your gut says no.
Be warned though, if there is anything that can be construed as bias against certain groups on certain basis you could be in deep doo doo, so don’t do that. You can look up the anti discrimination law for knowledge of specifically what that is.
Set up an agreement about showing the home, with them in the rental agreement, and penalties if they refuse to comply as agreed.
These guys have been correct, month to month contract and usually 30 days is minimum, but do check your state, and don’t fail to do that. You can also offer a bonus or have the buyer offer one for moving early if the buyer wants to move in quicker.
It is harder to sell with a renter in the house, make no mistake, but in tough markets it can be worth it.
Just write it into your lease agreement that with ___ days notice you can bring in prospective buyers to show the condo, (you and the renter will have to agree on the amount of time)and if it sells, you will give them at least 30 days notice to move out, of course you can be nice and give them 60 days, but I believe the minimum you have to give is 30.
first, instead of a lease, go with a rental agreement. you want something that’s going to be month to month. and put in the rental agreement that it is possible for you to show the condo to potential buyers, and specify a day and time. it can’t be m-f 9-5 it has to be reasonable to the tennant, so like thursday from 3-5 or something like that. make sure the tennant knows the place is to be kept clean. and you will have to give the tennant 30 days notice to move out.
Let any tenant know that the condo is on the market. Give them a month to month instead of a year’s lease. Once they move in and you get people interested in buying, you must give them 24 hours written notice that you are coming with potential buyers.
The previous answers are good, but who the heck is going to want to rent a place where they could potentially get kicked out after living there for less than three months? I would want at least a minimum of six months to live there.