Own Unit with Tenant and Want to Sell

[felici05]

What is the name of your state? Florida

I own a condo that I rent out. I have a tenant in the unit and their lease does not expire for 5 more months. I would like to put the property on the market now and sell it.
- I believe the new owner would need to honor the remainder of the lease -is that correct?
- What notice am I required to give the tenant on my intention to sell ?
- Can I just transfer the lease to the new owner? (w/security deposit and last month rent?)
- Do I have to give the tenant the first right to purchase the unit?
- If the potential buyer wants the unit but without a lease, is there anyway to force the tenant out?
Thank you!!

 

[BelizeBreeze]

What is the name of your state? Florida

I own a condo that I rent out. I have a tenant in the unit and their lease does not expire for 5 more months. I would like to put the property on the market now and sell it.
- I believe the new owner would need to honor the remainder of the lease -is that correct?

Correct

- What notice am I required to give the tenant on my intention to sell ?

None that I am aware of.

- Can I just transfer the lease to the new owner? (w/security deposit and last month rent?)

yep

- Do I have to give the tenant the first right to purchase the unit?

nope.

- If the potential buyer wants the unit but without a lease, is there anyway to force the tenant out?
Thank you!!

Yep. Either buy the tenant out (NOT inexpensive) or wait 5 months.

 

[Some Random Guy]

- I believe the new owner would need to honor the remainder of the lease -is that correct?

Yes

- What notice am I required to give the tenant on my intention to sell ?

If you plan on showing the place to potantial buyers, you should give the tenant as much notice as your lease or state laws require. Generally 24 hours notice before a showing is adequate is many states but read up on your FL Landlord/Tenant laws.

- Can I just transfer the lease to the new owner? (w/security deposit and last month rent?)

Since the new owner willl need to return the security deposit and use the last months rent, he will be mad if they are not transferred. Make sure to clearly ientify those items in your sales agreement.

- Do I have to give the tenant the first right to purchase the unit?

If your lease requires it, then yes.

- If the potential buyer wants the unit but without a lease, is there anyway to force the tenant out?

By paying him enough money to convince him to go away.