Tenant Notice To Vacate
I have a tenant on a one year lease option that ends in January. In the past few weeks he has told me repeatedly that he is forfeiting his option b/c he does not want to buy the house. In his option agreement I have it written that he needs to give 60 days notice if he plans to exercise his option.
What I don't have in there is anything in reference to him giving notice if he is not going to exercise his option, if he plans to move or if he wants to rollover to a monthly lease. The lease does say that at th eend of the agreement it will become a month-to-month lease
My question is is he responsible for giving me any notice that he is staying or leaving the property? And if so, how much notice? Also, if I plan to look for a new tenant buyer how much notice do I need to give the current tenant that he has to move?
As your agreement states, the tenant/prospective purchaser need only give you notice of their intention to purchase. This is common. Since they are not under an obligation to purchase, if they DON'T purchase they don't have to give you notice that they won't be purchasing (unless of course the contract said otherwise). At the expiration of the lease (assuming you have a written lease) your tenant will have a tenancy governed by the time period for which their rent payment is due. In other words, if they pay you $600 a month for use of the property, you have a month to month tenancy (if paid weekly its week to week, etc). Any notice of their intention to vacate the property will generally be dictated by statute. Take a look at the landlord/tenant act in your particular state. Check out www.findlaw.com.
The lease wil be on a month to month basis. The notice that the tenant will be moving would have to be at least 30 days.
Your notice not to renew or your notice for him to vacate would also have to be at least 30 day. If he has been a good tenant, then lease to him. Also give hime 30 days notice that the rent is going up. If he has been a royal pain then get him out.