How much to pay a nice tenant to leave

Macca said:

Firstly I would tell them they will have to move when the lease is up.

I would then offer $6000 if they move in January, $5000 in February, $4000 in March etc, no bonus left by July.

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This is a great idea. Why not make it $7K if they leave in December. If they don't jump at the money in December how long into January before your settlement? I think the stress of not knowing if they are going and not knowing if you have to quickly find a place to rent would be awful.

What date in January is your deadline to KNOW they are moving? What is the date that you cannot wait any longer and must find a rental for yourselves? You could end up with them giving notice a week after you have been forced to sign a lease for your own family.

Any chance that you can rent your current PPOR from the new owners for a period of time?
Any chance of extending settlement so you can stay on longer?

Otherwise, to make the decision easier for the current tenants, you could maybe do some research on current rentals available and propose those places to them along with some cash incentive.

Why not change the tables and get them to start the negotiation process and see what they come up with?

They might be happy to leave with way less than you are prepared to offer.

Ask them politely you would like them to leave and are happy to negotiate the terms. Let me know ASAP what would make you happy.

If their terms are ridiculous you could then put down your second/third best offer (so you have some powder dry for further negotiations later)...else if you are happy with their offer you could still negotiate with them.

Cheers,
Oracle.

It is really pretty simple.

Either they will move early or they won't. Most tenants will realise they hold all the aces in this situation.

Suggest you work out when it suits you to move in and offer $10K if they agree to vacate by that date. Sweeten the deal by saying they can move up to xxx weeks earlier if they find another place so they are not paying double rent.

Our son used this offer successfully when he wanted to move back to his PPOR earlier than expected. He tried lower offers unsuccessfully. Cheaper and easier than a short term rental elsewhere and double moving expenses.
Marg

Why can't you say change of mind we are selling it then offer sixty days notice to vacate? List up briefly then withdraw from market and move in. Where is the property located?

Sexyv40 said:

Why can't you say change of mind we are selling it then offer sixty days notice to vacate? List up briefly then withdraw from market and move in. Where is the property located?

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They have a lease which must be honoured unless they agree to leave early. You cannot just issue them with sixty days' notice.

wylie said:

They have a lease which must be honoured unless they agree to leave early. You cannot just issue them with sixty days' notice.

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well certainly not in NSW , unfortunately

Cliff