Did you know... December 12, 2022

SELLING A RENTAL PROPERTY?

If a landlord cites the intention of selling a single-family dwelling as the reason for termination of tenancy, the owner will be subject to penalties if a good faith effort to sell the property isn’t made within 30 days after the tenant vacates. 

For the purposes of this law:

“There shall be a rebuttable presumption that the owner did not intend to sell the unit if:

(i) Within 30 days after the tenant has vacated, the owner does not list the single-family dwelling unit for sale at a reasonable price with a realty agency or advertise it for sale at a reasonable price by listing it on the real estate multiple listing service; or
(ii) Within 90 days after the date the tenant vacated or the date the property was listed for sale, whichever is later, the owner withdraws the rental unit from the market, the landlord rents the unit to someone other than the former tenant, or the landlord otherwise indicates that the owner does not intend to sell the unit.”

A tenant who is wrongfully evicted is entitled to the greater of their economic and noneconomic damages or three times the monthly rent of the dwelling at issue, plus reasonable attorneys’ fees and court costs.

We are here to help you and your clients comply with all aspects of rental laws. Please contact us for further assistance!

Nothing found herein should be construed as an attempt to offer or render a legal opinion or otherwise engage in the practice of law. You should not rely solely on this information. We encourage our clients to work with a lawyer experienced in commercial and/or residential real estate matters as they can be complicated and confusing.