Posted by William Bronchick on January 28, 2002 at 23:35:27:
If the tenant has a lease, it is enforceable by the tenant until the end. Offer the tenant a “bribe” to leave early.
tenant rental contract? - Posted by jkf
Posted by jkf on January 25, 2002 at 08:05:27:
I have a motivated seller who is giving me a deed to his home with $25,000. worth of equity and is $2,000. behind on payments. The reason he fell behind on his payments was because a tenant walked on him in the middle of the night. He had the property listed with a Property Manager who took three months to find another tenant. The seller is mad at the property manager because the first tenant he found walked away in the middle of the night and it took him three months to find another tenant. The seller imformed the Property Manger that he was fired and new owner(myself) was taking ownership of the house. The Propery Manager had no problem with the firing but he imformed the seller that he cannot remove the tenant because of the law in the state of NC says the tenant can stay until the contract ends (DEC 2002). The house has a $100. casflow per month excluding hiring a property manager. However, I would like to remove the tenant and bring in my own tenant buyer. Should I rehire the current Property Manager and wait until the current tenant lease expires in DEC 2002? Can I give the seller a 30 day notice that I am selling the house or should the current owner give the seller a 30 day notice? I would appreciate your advise. Thanks