Posted by Millie I. on March 24, 1999 at 17:24:47:
If the tenant has a written lease, usually they have their ‘Tenant Rights’ to stay till the end of the lease. You cannot demand that the seller violates tenant’s rights, unless the tenant volunteers to leave.
However, everything can be resolved in a friendly win-win situation.
Upon taking title of the property, I would interview the tenant to find out what their strengths and weeknesses are. ( You never know, the tenant could be ready to buy a smaller house in case you have one for sale). I would be honest and tell the tenant that I bought the house to rehab and make a ‘Living’ on the sale. Let the tenant tell you if he would move willingly or not, (remember you can’t make him). If an incentive is needed, offer to refund the last month’s rent if he moves by a certain date, and give him his deposit back also. With 2 months rents coming back to him, he can find another place anywhere, there is a better chance for him to agree. You need to convert the ‘Inconvenience’ you caused him into an ‘Opportunity’ for him to move to some place better.
Now he gave up his lease and gain one month’s rent back. You invest one month’s rent to free the unit for bigger and faster gains. You both win. Look at the big picture.