Question: I own one rental property, a townhome. Due to financial difficulties, I must sell it. What are the tenants rights while it is listed for sale?What are my rights to show it to potential buyers? If it sells before the lease is up, what can be done if the new owner wants the property to be vacant?
Answer: Please read our article on The Arizona Landlord and Tenant Rights at this link. This article also contains a link to the Arizona Residential Landlord and Tenant act, which details lawful and unlawful entry on the premises by a landlord. In general, property is sold "subject to" any outstanding lease agreement, so a buyer would likely be subject to the lease until it expires. Because each situation is unique, you may wish to consult a qualified attorney for advice on your specific situation.
July 24, 2009