How To Keep Your Options Open On Your Minneapolis Duplex

One of the best ways to get the most money for your Minneapolis duplex is to structure your leases an owner-occupant can move in within 60 days of closing.

What if you aren’t convinced you want to sell, but want to make sure your duplex is occupied? If you have the tenant sign a one-year lease, have you eliminated your options?

There’s an easy solution.

Simply add a clause to your lease that states in the event you choose to sell the property, and the buyer wants to move in, they agree to move within 60 days of closing.  You may even offer a financial incentive to do this should it occur.

Of course, there’s always the possibility this may cause a prospective tenant to balk at signing it. Tell them the truth – that you haven’t committed to selling the property, and should you choose to do so, you want them to be compensated for that inconvenience in the unlikely event it happens.

As always, be sure to speak with a real estate attorney for the proper language to the addendum. It likely won’t cost much, and it’s a great way to keep your options open.