When we purchased our duplex back in June, the plan had always been to live in one side while renting the other side out. At the time we became official owners of the property though, both sides were fully rented and in the middle of their initial one-year terms. Not a problem — the lease agreements between the tenants and the previous owners were signed over to us at the time we purchased the property. And we’ve been collecting rent every month in the meantime now. But it did mean we needed to wait until one of the existing leases came to an end.
We knew this going into the deal and planned accordingly. It’s why we ended up finding a short-term apartment of our own to rent while we waited. Well the time has come for one of our units. November 1st will be the first possible date we could move in — and we intend to make sure it’ll be empty and ready for us.
The lease terms dictate that we must give at least 30 full days notice of our intent to terminate the lease agreement. So as to give our tenants ample advance notice and enable them to find alternative housing, I sent the official letter this week. I also gave them a phone call as a courtesy. This gives them…
Note From Author
The full “Ending Our Tenant’s Lease Agreement” post has been back-dated to 09/15/2005. But it was originally published to the Financial Independence Champion (FIChampion.com) Blog on 06/07/2016.
Why Back-Date Posts?
I mentioned in my first post how this blog will be a little different than any other ones you may follow. I still plan to talk about personal finance, rental property, travel, and the pursuit of financial independence. But to give all these topics the right context and the full picture, I need to start at the beginning. I need to fill in the details of life from 2005 until now. I want you to see the successes, the struggles, and all the milestones we passed along the way. Therefore most of the “new” content will be back-dated to their appropriate dates in 2005, 2006, and beyond — until we’re caught up!