You own a small apartment building. You find a buyer and a sale is arranged.
The tenants learn of the sale and ask if they will be forced to move. How do you answer?
You explain that it depends upon the lease agreement. If the tenant signed a lease they have the right to remain in the unit at least until the end of the lease... longer if the new owner agrees.
In many cases the tenant signed a lease and remained after the lease term ended. At that point their occupancy become month to month.
A month to month tenancy can be terminated merely with the landlord giving notice to the tenant. The length of the notice may be governed by state law, but a 30-notice is customary.
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Mark Walters~
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About The Author...
Mark Walters is a third generation investor, author, speaker and publisher. He is the Webmaster of
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