It may come as news to many, but many times, a duplex buyer wants to live in the property they’re purchasing.
And many duplex sellers lose the opportunity to sell their property to these prospective buyers simply because they forgot one simple thing: to put a clause in their lease that requires a tenant to move out in the event a buyer wants to live there.
This eliminates their property from consideration by a large portion of buyers in the marketplace. And it would have cost these sellers little, if anything, to simply use a lease that allowed for an owner to move in given proper notice and, possibly, appropriate compensation.
Perhaps you’re a duplex owner who can’t imagine selling. Maybe you don’t think your duplex is the kind of place any owner would want to live in. But in either case, does it hurt to simply use a lease that gives a buyer that option?