What do you tell tenants when you're going to sell soon?

Rehabbing, Fix and Flip, Rental Properties
1

If your current tenant moves out, but your plan is to sell the place a year from now, do you tell this to the new tenant before they move in (that they’ll have to move again in a year)?

The reason I ask is that years ago when I was young and naive, I rented a co-op from someone and this happened to me and it was extremely annoying as a tenant. And since it was in the NYC area I’d even had to pay a one month’s broker fee to some agency to get the stupid place. I’d like not to put another person in the same bind, if I can help it. Thanks.

2

A year in the future, I wouldn’t mention it. You aren’t actually certain that far in advance. Your plans might change.

Tenants don’t get more than a one year lease, so they realistically can’t expect that their stay is guaranteed for over a year.

If you plan to list as soon as it is rented, then you certainly should tell the tenants before they apply.

3

thanks tatertot