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We are under contract for a property with a tenant. We plan to owner-occupy the home and the tenant needs proper notice to vacate. She is on a month-to-month lease and has been aware that the property is being sold. In her lease it says that she must be given 30 days notice to vacate. Does this mean 30 days from the start of her lease term (1st of the month) or 30 days from the date she is given notice? I've search the internet for NJ Law on this, and can't find an answer.
I would look at the date the rent is paid. If it is paid on the first, 30 days starts on the first. If the rent is paid on the 15th, 30 days starts on the 15th. Give notice when the rent is paid.
IMO I would give more notice to prevent any issues...specially in NY and keep in mind that you have to give proper notice for the security deposit and on time otherwise you risk treple payment.
Definitely check your state's statutes because not all of them require notice to be given on any specific day. If rent is due on the 1st and she is to vacate by, say the 16th you simply prorate her rent and give her that amount in your Notice to Vacate.
I agree w/ Bentlebee though, give her as much notice as you possibly can just out of ordinary courtesy.
Whomever holds the security deposit now also needs to be aware of the law where this transaction is concerned. For instance, if one of our owners sells or in some other way ends our management agreement, unless the property is going to be under the management of another licensed realtor, the deposit goes straight to the tenant. Basically this is because the tenant's contract is with us, not the owner. It's up the to the owner (new or otherwise) to negotiate a new lease and have the tenant pay them a deposit. Even though in the OPs case it would be a very short time, the law will still apply as far as I could tell.
I think that a brief conversation with a real estate attorney (or any attorney familiar with LL/tenant law) would be very beneficial here.
wouldn't 60 or 90 days be more appropriate given the circumstances?
That's actually where the problem comes in. We told the seller's we planned to owner-occupy the dwelling and the contract states that we must close within 45 days of our obtaining the mortgage commitment. Not being a landlord, or knowing much about the laws at the time, we saw nothing wrong with this.
At this point, I'm going to have to pay more to extend my rate lock past the established closing date but the sellers have realized they need to give 60 days per NJ law for evicting tenants in spite of a lease stating 30 days notice. It's with the attorneys at this point.
They've asked if we can close with the tenant still in the home, but if you could see what condition she's already left the home in (and my experience watching my brother have to evict tenants from a rental) we were not willing to make that concession. It's a great home in a great location and, unfortunately, she's not likely to find the same situation for the same price (she was basically priced very low in light of the fact it was a for sale situation).
Sort of a mess all around. As a renter, I feel for her. As a buyer, I have my own issues to contend with.
That's actually where the problem comes in. We told the seller's we planned to owner-occupy the dwelling and the contract states that we must close within 45 days of our obtaining the mortgage commitment. Not being a landlord, or knowing much about the laws at the time, we saw nothing wrong with this.
At this point, I'm going to have to pay more to extend my rate lock past the established closing date but the sellers have realized they need to give 60 days per NJ law for evicting tenants in spite of a lease stating 30 days notice. It's with the attorneys at this point.
They've asked if we can close with the tenant still in the home, but if you could see what condition she's already left the home in (and my experience watching my brother have to evict tenants from a rental) we were not willing to make that concession. It's a great home in a great location and, unfortunately, she's not likely to find the same situation for the same price (she was basically priced very low in light of the fact it was a for sale situation).
Sort of a mess all around. As a renter, I feel for her. As a buyer, I have my own issues to contend with.
Does it say in contract that it is contigent on the place being empty? If not you might be in a little trouble. Have you offered the tenant a buy out to move out early? Is she agreeable? Also maybe offer her an unconditional return on the security deposit(if there isn't much damage) if she moves out early(make an inspection to determine the exact condition of the house and do not give it back unless it is in the condition that you made the agreement. If the place isn't in good shape she might take this.
Is the contract subject to any existing leases?
Could the owner "rent back" from you for 1 more month after closing? Be sure to talk to your lender because loans on owner occupied homes, there is a "deadline" that you must occupy the home.
Location: When you take flak it means you are on target
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If an owner intends to occupy the property in all states so far as I know you must give 30 days notice. If a bank is foreclosing they must give 90 to even 120 days notice. That is different.
You need to read your lease. (See the other thread regarding 60 day notice.) IF the lease calls for 30 day notice PRIOR to the next billing cycle then you technically need to give the notice effective the 1st of the next month. If there is no clause then 30 days would be legal.
Basically if you give 30 day notice tomorrow, Feb 14th, they should vacate on March 31st. That is what I would do, it is only right to give them as much notice as possible.
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excuse me, but...
