Let's talk about negotiating tenant buyouts
When negotiating tenant buyout agreements, our preference, whenever possible, is to have the owner negotiate in a buyout discussion because if our attorneys make direct contact with the tenant, the tenant may be spooked and call an attorney of their own.
In turn, the tenant’s attorney will likely sweeten the pot for their client to come back with an offer that is much more favorable for the tenant, if not ludicrous.
We do understand that some landlords are a bull in a china shop. What we mean by that is that the rental relationship is so acrimonious, that they cannot engage in an amicable discussion with a tenant they are attempting to buy out.
In that case, our office can handle the negotiation, but keep in mind that we will charge an hourly fee. We charge a flat fee if the owner and their tenant can come up with mutually agreeable terms to transition occupants out of the unit without having attorneys engaged in the discussion.
Subscribe to daily tips
Astute landlords, property managers, and real estate professionals are always in the know.
