I want to sell, what to do with tenant in a lease?

[Weapon_R]

I want to sell my house and I have a tenant in there right now. The problem is that the tenant still has 5 months left on our agreement.

Can I sell? Does the new owner have to honor the tenancy agreement? Can the tenant force me not to sell until our lease is up?

[crazyning]

Perhaps you have to sell it with the condition that the new owner honors the lease agreement?

[Weapon_R]

Perhaps, but i'd rather not restrict potential buyers like that.

[Crymson]

I would like to think that as much as the lease binds the rentor to the contract, the reverse would be equally true.

[rinny]

Could you not ask the people in the place if they would be willing to cut the lease and come to a mutual agreement. Whats the worst that could happen by asking?

[Alex_FORD]

Inform her of your intent to sell, and serve her notice for the end of the five months. Also, let her know that she is free to leave earlier without penalty.

THEN........HERES WHERE THE FUN STARTS.....

start doing noisey revovations that involve strange people coming in and out of her place,

or replace her counter tops but have complications that delays delivery of the new counter tops, BUT the old one have already been removed

paint walls with the smelliest paint you can find, not that cheap latex stuff

tar the driveway on the same week that the streets are being swept, so she has to walk down the street to get to her car.

have someone wash the exterior of the windows on the weekend when she is trying to have some privacy,

.....you get the idea, right?

[Nabberj]

Hey Weapon, you must give your tenant 90 days notice before terminating their lease and selling the house is a significant reason for you to do that. Therefore for a purchaser would have to take a three month possession date to get a vacant possession, you can still do showings on the house you must give the tenant 24 hours notice before a showing though. If they want to assume the tenant then their possession could be at anytime.

I'm a realtor with CIR Realtors, let me know if you have any other question, and good luck.

[robpark]

Yeah, you can sell the house now, the sale just has to be subject to tenant's rights....blah blah blah....

In all honesty, making the deal subject to tenant's rights likely will not hurt you when it comes to the selling process. If it is a good location, people will wait. Not to mention, my experience with tenants has been that they are reasonable people and will move out as soon as they have found a new place to live.

[gkAeris]

ya i was on the same page as you

you have three chocies

1. sell the place with possession asap, but the new pp HAVE to assume tenants for remaining term (5 months)

2. offer tenants some money to break the lease, just negogaite with them and see what they want...

3. sell the place now with possession in 5 months (but that means you dont' get your $$ till 5 months)

[benyl]

Stop getting advice here.

Read your lease. There should be covenants for early termination for both parties. Leases are not set in stone.

[G]

http://www.qp.gov.ab.ca/documents/Acts/R17P1.cfm

Read Part I