Foreclosures And Existing Tenants
What are my options with existing rental tenants when buying a foreclosure at auction in the District of Columbia?
Do I have to honor the existing rental agreement? or How many days must I give them to vacate? What is the proper/fair procedure in removing them from my new property?
Thank You in Advance,
BH
Check the D.C. statute. Where I hail from, the tenant gets 30 days after the sale.
You may be able to get them to leave sooner if you offer them some financial assistance (the carrot approach) to help them move. I will offer them $500-$1000 to leave the place broom clean. I let them tell me when they can move.
This beats the delays they could initiate and they damage they may do to the house as a final act of protest.