Hi
Just wondering what you think is a fair amount of time to advise tenants of your intent to sell a house.
Jeff
Hi Jeff,
Are they on a lease? There may be a section in the lease, if so you will need to abide by it.
Secondly if they are on a lease then I think they have to stay while you are selling, but if they aren’t then they need only give you 21 days notice (in WA anyway that’s the standard notice) that they are going to vacate and then you are receiving no rent while selling. Is that a problem?
If it is then I can only suggest that you don’t give too much notice.
We recently advised our tenant that we intend to sell in a couple of months even though his lease had run out. We knew he was on the State Housing list so asked him if he could check for us how far away he was. Unfortunately it seems he’s 6 to 12 months away so we simply apologised and said we couldn’t wait that long but he’s welcome to stay on at reduced rent while we sell if he’s willing to keep the place looking good. He was very happy to take this option, so it meant we were still receiving some rent while selling and for him it meant he could put a bit aside towards moving in the event that an investor doens’t buy it. Do you think reduced rent may entice your tenants to stay and keep the place looking good? Some may just want to be out of there, only you can assess what may be work in your situation.
Good Luck, and check the lease first and see if says anything.
Regards
PKHi
The amount of time you must give your tenant is set by the Laws and Legislation governing Residential Tenancy Agreeement.
You shoul join http://www.thelandlord.com.au – they give you all this sort of info when you run a property yourself.
You can get into trouble if you do not follow the correct amount of time too.C74
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