In California, a “120-day notice to sell” is a legal requirement for landlords intending to sell their property, ensuring tenants have ample time to seek alternative housing. This regulation is part of tenant protection laws to prevent abrupt eviction due to property sales.

Your landlord could also sell the property while you are leasing it. The new landlord will have to follow the terms of the lease you have with the old landlord until the lease ends. Any security deposit will be transferred from the old landlord to the new one.

Under California law, landlords must have proper cause to end a lease early. Reasons like wanting to sell or move into the property themselves are acceptable, but ending it for no reason or on a whim is prohibited.

It's important to note that tenants in California have the right to continue living in the rental unit until the end of their tenancy, even if the property is sold. The new owner must honor the existing lease agreement and cannot terminate the tenancy without providing proper notice as required by California law.

I hope this letter finds you well. I am writing to inform you that the property you are currently renting at Property Address is being put up for sale. This means there will be some changes in the near future, but I want to assure you that your rights as a tenant will be respected throughout this process.

How to Write an LOI in Commercial Real Estate Structure it like a letter. Write the opening paragraph. State the parties involved. Draft a property description. Outline the terms of the offer. Include disclaimers. Conclude with a closing statement.

Just Cause is Required for Eviction (Oakland Municipal Code, Section 8.22. 300) In Oakland, a property owner can only terminate a tenancy or evict a tenant for JUST CAUSE.

Details about the sale Inform the tenant that the property is being sold. Be transparent about the process, including whether the lease and deposit will transfer to the new owner. Let them know that the property will go on the market, and they may need to cooperate with showings.

The letter to notify a tenant of the sale of the property should be short and concise and include information such as: Identifying information including the date, owner name, tenant name, and property address. Notice that property is being sold and that the lease and deposit will transfer to the new owner.

Nothing prevents you from selling the home. You do NOT have to evict the tenants to list the home for sale. There may even be buyers that want to step into an investment and become a landlord (many a landlord has posted on reddit that they bought a home with an existing tenant).

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You can show the property if you let the tenants know it is being sold, but there are rules. The owner must file a Property Owner Certification Prior to Move-Out Negotiations with the Rent Adjustment Program prior to entering into Move-Out Negotiations.First raise rent to maximum allowed in your area. A copy of every eviction notice must be filed with the Rent Adjustment Program within 10 days after it is served on the tenant. If the rent-controlled building is being sold, the owner has a right to show the space to prospective buyers. A property owner who sells a rental property must either: 1) Transfer the deposit to the new owner; or 2) Return the deposit to the tenant. If the reason is that they intend to move into the unit, that is a "just cause" eviction under Oakland's Just Cause ordinance. When it comes to selling a rental property with tenants in California, understanding the local laws and regulations is essential. Landlord is selling the house I rent, is rent increase still restricted even when under a new owner? Your rights as a San Francisco rentcontrolled tenant during a building sale.

Property Sold Our With Tenant In Oakland

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