Landlord Question and Answer Forum

I just recently sold my property in Ca (escrow will close in 25 days). Tenants were notified in June that the property would be listed for sale. Tenants are in annual lease. I will issue 60 day notice to vacate as well as transfer lease to new owner at the close of escrow. So the tenants will pay last months rent to new owner. The new owner will be responsible for returning security deposit (if applicable). Is there anything else I need to do/missing? Thanks!

Note: not an eviction…Notice to End a Periodic Tenancy…..Landlord must give you 30 days advance written notice in either of the following situations: (1) Any tenant or resident has lived in the rental unit less than one year or (2) 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….. Also, all of the following must be true in order for the selling landlord to give you a 30-day notice; (a) The landlord must have opened escrow with a licensed escrow agent or real estate broker, and (b) The landlord must have given you the 30-day notice no later than 120 days after opening the escrow, and (c) The landlord must not previously have given you a 30-day or 60-day notice, and (d) 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.) . -----Disclaimer: Since I’ve been answering a lot of questions, I thought I would make the following statement. I’m not affiliated with EZlandlord Forms. I’m just here (not sure how long) to help those that have questions. Having 40+ yrs with Rental Property and done well, it’s my way of “Pay it Forward (check out the movie).” However, it is up to you to become familiar with your State/Local laws. I always like to know if the suggestions I offer are helpful. Feel free to comment anytime. Thanks in Advance.

Posted by Bob R, CA on Saturday, September 15, 2012