Expert: Sue Bernstein - 8/21/2007

Question
My husband and I own an apartment condo that we have rented out. However we
are in the process of evicting him because he has fallen very delinquent. We
would like to put it on the market ASAP but if the tenant pays on time we have
to allow him to stay. If he does end up paying and staying, what is the best way
to sell our property?

Answer
Hi Ama,

The most important issue is what kind of rental agreement you have with your tenant.  Check with your eviction attorney as to whether you have to keep him if he brings his rent up to date.  I'm not sure you do.  If he is on a month to month tenancy you need to give him notice to move.  How much time you have to give him depends on where the property is located. Either your attorney or the city can tell you that.  It is best you sell your property vacant.  Tenants are notoriously uncooperative, will make showings difficult, could say all the wrong things during showings and can have the place looking a real mess.  If you have to put it on the market with the tenant in possession you might want to give the tenant a break in the rent if he cooperates and agrees to have the place looking presentable at all times.

Hope this helps and good luck.

Sue Bernstein