We've created a free sample letter you can use (no email optin required) to notify your tenants on your intent to sell the property. Selling a property with a tenant is legally permissible.The ezLandlordForms Sale of Property notice allows landlords to notify the current residing tenants that the property has been put up for sale. Utilize a Letter of Intent (LOI) to initiate negotiations for a sale, summarizing the terms of a forthcoming contract agreement. In this article, we'll look at the benefits of selling a commercial property with tenants, as well as the more common issues that arise. Legal and practical considerations when selling a house or property that you're currently renting out. There are many guides on how to write a lease termination letter, and you can certainly search for sample termination letters. Use when the leases for a tenant-occupied property are unavailable at the time the Agreement of Sale is drawn up. The tenant can stay in the rental property until the lease expires. If you're a Pennsylvania landlord planning to exit the rental business, you may have already considered putting your property up for sale.