Rental Owners Association of Lane County- Pandemic Property Sales
I am please to announce the The Rental Owners Association of Lane County featured our company in their April monthly newsletter. The association had a very good article regarding the sale of rental properties during COVID 19 in relation to Senate Bill 608. The article included the four Qualifying Landlord Reasons(QLR)n outlined in Senate Bill 608, all of which require a 90 day written notice to terminate tenancy.
- The property is being demolished/ concerted into a different use within a reasonable time.
- The landlord will undertake repairs or renovations within a reaosnalb epitome and the property will be unsealed for occupancy during the renovation.
- The landlords intends to move into the property of a family member of the landlord will move in as their primary residence and no landlord does not own any other comparable unties int eh same building that are more readily available for occupancy.
- The landlord is selling the property separately from any other unit to a buyer who intense to occupy the property as their primary residence.
If a seller is selling a property to a buyer occupied by a tenant who has been occupying the property for over a year, the buyer mush intel to occupy the home has their primary rescind. In this situation, the landlord must provide a tenant attic a written 90 day notice of termination. At the point of notice, the landlord must include written evidence of an accepted offer not eh property no more than 120 days after acceptance of the offer. If the buyer does need to state they are acting in good faith to occupy the dwelling unit as a primary residence or a signed affidavit from the buyer must be included with the accepted offer.
The article also discusses:
~ Does your level of renovation qualify