Who will give my tenants notice that the property is for sale?
We will. In Queensland, tenants must be made aware that the property they’re renting is for sale before any prospective buyers are taken through. And they must be informed before they sign a lease that you intend to sell the property if you intend to list it for sale within 2 months of their lease start date. If you don’t, the tenant isn’t required to adhere to the full term of the lease & is permitted to vacate the property with just 2 weeks’ notice. That can be a real problem for the Landlord/Vendor if they’re hoping to receive rental income until the property sells.If the tenants are on a periodic agreement (all fixed term leases revert to “periodic agreements” when the lease term expires), the required notice period of 2 months when issuing a Notice to leave (Form 12) is reduced to just 4 weeks. In many cases that can be crucial to the sale proceeding for the Buyer, the Vendor, or both.We take special care when selling tenanted properties that leases, forms, etc, are completed & issued in just the right ways, & at just the right times.