Monday, April 30, 2012

To sell an investment property in California, how much notice must landlord give to tenants?

An owner/landlord can end a periodic tenancy (e.g. a month-to-month tenancy) by giving the tenant proper advance written notice.  

"Proper" notice depends on circumstances.

If anyTenant or resident has lived in the rental property for less than one-year, the owner/landlord only needs to serve them a 30-day "No Cause" notice, consistent with State law.

If every tenant or resident has lived in the rental unit for a year or more, the owner/landlord normally must give the tenant(s) 60 days advance written notice.

However, the owner/landlord can reduce the 60 days to 30 days if all of the following are met:
  • The landlord has contracted to sell the rental unit to another person who intends to occupy it for at least a year after the tenancy ends.
  • The selling landlord must have opened escrow with a licensed escrow agent or real estate broker, and
  •  
  • The selling landlord must have given the tenant the 30-day notice no later than 120 days after opening the escrow, and
  •  
  • The landlord must not previously have given the tenant a 30-day or 60-day notice, and
  •  
  • The rental unit must be one that can be sold separately from any other dwelling unit. (For example, a house or a condominium can be sold separately from another dwelling unit.) 203
The landlord usually isn't required to state a reason for ending the tenancy in the 30-day or 60-day notice

2 comments:

  1. Great post! I was reading articles online about aircraft escrow because a co worker was talking about. That's how I came across your blog, I'm happy I did because this was a very informative post. Thank you for sharing this with us!

    ReplyDelete
  2. Great detail for Silicon property. Silicon Valley real estate has earned quite a name for itself; the area is part of the posh San Francisco Bay area and is in high demand with the growth of jobs in the technology sector. How to Sell Property San Antonio

    ReplyDelete