Tenant question for th almighty CP Oracle

[photon]

Yup, I've never done it (though I have one case where if I'd know it I would have), but a friend ended up having to do it.. nicest tenants, great history, great credit, all of a sudden flaked out and went sideways.

Repo'd the car, they didn't even pay the rent then, and the car was worth a LOT more than the rent owed. Car auctioned off.

People are strange.

[Robbob]

I have a little follow up to my situation that I'm a little foggy on. I figure in my situation it is a periodic rental month to month. So, if I want to terminate the lease then I have to give 3 months notice. Now the part that confuses me a bit is that in the section of no fault termination there are 10 points and one is that if you are to sell the person can stay until the new owner gives him a letter. Is that just for rental companies or any joe blow that has a place to rent?

The ideal situation would be for the person to leave so that some painting and stuff can be done before throwing it on the market.

[photon]

Any of the stuff in the act applies regardless of it's a corporation or just someone who just rents their basement; it covers all residential landlord/tenant relationships.

So in that case when you find a buyer, the buyer would ask you in writing to give notice to the tenant and then you'd give the 3 month notice to the tenant. This would all take place after a deal was agreed upon I assume.

To get them out to do some work on the place before putting it on the market, there's not much you can do actually. Possibly try and negotiate with them, give them some sort of incentive. Offer to pay their first month's rent in their new place or something, the cost of that will be very small compared to the amount of money in the entire real estate transaction.

[Robbob]

Thanks Photon and all others. So much work and knowledge to be a slum lord.