34°Overcast

From the Forum – Buying a home with tenants in place

by Prince Of Petworth December 16, 2013 at 2:15 pm 20 Comments

11280913155_0e70919756_z
Photo by PoPville flickr user wolfkann

Buying a home with tenants in place:

“We’re in the process of buying a unit that is currently rented out. The existing lease expires in the fall. The tenants have waived their TOPA rights. We would like to move into the unit as soon as possible. Does anyone know whether a new owner has the right to terminate a lease in DC? I have read on the Office of the Tenant Advocate website that one of the 10 legal reasons for evicting tenants is if a property is sold and the new owner would like to occupy it themselves. However, OTA doesn’t make clear whether this applies only in month-to-month situations or whether it applies when there is a valid lease in place.

If we are legally allowed to terminate the lease, does anyone know what kind of notice we need to provide or could you direct me to some resources where we could find out? Also is there a set amount of money we need to give the tenants to move out? We would greatly appreciate any other tips or guidance you could provide!”

×

Subscribe to our mailing list