Ethical, proper, and enforceable tenant buyout agreements throughout the Bay Area.
Under a tenant surrender of possession agreement, the renter agrees to voluntarily vacate the premises in exchange for compensation, a rent waiver, or both. There are several upsides. Traditionally, when a tenant vacates voluntarily, the rent can be raised to market rate. Also, when properly staged, a vacant building will sell for more than one that is tenant occupied. Moreover, legal residue is removed because the tenant agrees to release all claims that may arise from the tenancy.
Watch Daniel discuss the nuances of tenant buyout agreements by locale, the advantages, and detriments of these agreements, and offer some strategy on how to arrive at a mutually agreeable dollar amount.
Tenant buyout agreement rules throughout the Bay Area
Distrustful municipalities have enacted strict regulations governing the negotiations of buyouts. Get them straight from the source.
How to properly structure a tenant buyout agreement and negotiating with the tenant can be a delicate balancing act.
In a two-part series, we explain how to broach the conversation with the tenant, advice on how to have a leveraged conversation, and strategies you can use to cross the finish line.
Items we need to draft a Tenant Surrender of Possession Agreement. Once we have this information, our turn around time is 48 hours.
Tenant buyout agreements in a nutshell
Get a global view here.