To Tell Or Not To Tell...
Hello,
Will be renting out a brand new home in March.
My plans are to sell it in approx. 3 - 5 yrs. Do I disclose this to tenant(s) upfront or wait 'till about 4 - 6 mos. out from sell of property ?
I realize I may end up having one or more tenants throughout that time frame...
Thanks !
Let me ask a question - Why would you tell them at this point? What benefit is there for you or them?
3 to 5 years down the road is a long time and even your plans could change to where you don't sell. Why raise any unneccessary concerns.
My vote is for ZIPPIT until you are in the process of selling at which point you can bring them into the loop as a potential buyer.
Absolutely, you may go through several renters between now and then, no need to tell them.
[addsig]
As you get closer to sell date--or now, if you're comfortable with predicting appreciation that far out--you might want to consider or even insist on "rent-to-own" or Lease Option. Properly structured, everybody wins and you get a more responsible tenant and smoother sale.