To sell an investment property in California, how much notice must seller give to tenants?
"Proper" notice depends on circumstances.
If any tenant 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.
Labels: 30-day, 60-day, notice, landlord, tenant, sell, investment, property, rent, month-to-month, lease, occupy, escrow, notice
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