In the early stages of considering selling a rental, most duplex owners have two big misconceptions.
The first, and the one I’ve found that causes the greatest indecision for owners is if the tenants found out, they would leave.
The fact is, if there is a valid lease in place, the tenant would not be able to move before it expired. Leases follow a property, not an owner. Any new owner of a building with tenants of any kind is bound to the terms of the previous owner’s lease, unless, of course, it is up for renewal.
The second concern many sellers have is that tenants may either refuse to accommodate showings, or that their unit is so messy a buyer will recoil in horror.
Minnesota state law provides for a landlord to enter the unit at any time for the purposes of selling a property, provided a reasonable attempt has been made to notify the tenant. The landlord’s right transfers to their Realtor in the event of a sale.
Most of the time, simply explaining this rule to tenants as well as conveying they will not only not have to move, but also not vacate their unit for showings is enough reassurance for most tenants to feel at ease with the sale process.
For a copy of the Minnesota Landlord and Tenants handbook, CLICK HERE. You can find the reference to the landlord’s rights during the sales process on page 12.