Best way of informing a tenant you are selling your apartment without losing them

Hi ,
I am currently putting an apartment up for sale. I am aware it is probably is a dreadful time to do this and I will be waiting a while to sell it. I have a lovely tenant in it at the moment any ideas on how to sell the apartment while not losing a really good tenant. I was thinking of advertising on daft any suggestions or advise would be much appreciated.

A friend of mine in a similar position told the tenant and the tenant offered to buy it.

Tell the tenant. Tell them that there is no hurry and that you will give them at least three monhts notice.

Tell them that if you do sell it, you will give them one month's rent free for the disruption.

Brendan

Thanks for the info that is a great help

The biggest issue for the tenant might not be the need to find somewhere else, but the inconvenience of having to accommodate viewings. So worth thinking about that.

It may not bother them (initially), but if it gets to be a burden on them and you want to keep them in there until the sale goes through, you might have to consider some inducement, like a rent rebate (not a reduction) while the viewings continue.

Also, bear in mind you might (although unlikely at present) sell it to an investor and the (good) tenants might be an asset and you would want them to stay in that case.

I said rebate because in case of the sale not occuring, you want to be able to end the rebate and if selling to an investor and tenant is happy to stay, you don't want to sell on with a reduced yield.

If you place a property up for sale with a tenant in situ; does the rental contract become void? Also, are there legal guidelines on the minimum amount of notice you can give a tenant to vacate a property that has been sold?

Raskolnikov said:

If you place a property up for sale with a tenant in situ; does the rental contract become void? Also, are there legal guidelines on the minimum amount of notice you can give a tenant to vacate a property that has been sold?

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Yes. If you don't own it, you can't let it.

Yes, under part 4 of the tenancies Act if it applies.:
http://www.citizensinformation.ie/categories/housing/renting-a-home/types_of_tenancy

Under a fixed term lease it will be the contract that stipulates requirements.