Standard “you are not my lawyer, don’t trust legal advice from the internet” rules apply.
I own a rental property, and signed a month to month agreement with a tenant. Contract starts on feb 1, ends March 1, but can go month to month if we agree. No money has changed hands yet. We agreed to payment of security deposit this Friday and rent on the day of moving in. It’s written into the contract that way.
Complication, I’ve also had the property on the market to sell and just got a reasonable offer for it. I mentioned this to the tenant up front. I’d like to sell it and was surprised at the rapid movement of selling.
I think I’m obligated to honor the contract for February, and have the tenant move out March 1. Ideally it seems best for both me and the tenant to just scrap the contract and go on our merry ways. But if the tenant wants to continue the contract, I’m obligated to let them in…yes? It’s in my best interest to not have the person move in, and I’d like them to recognize it is best they find another place that is more permanent.
Is there a reasonable way out of this agreement? Does the fact no money has changed hands make a difference?
I think I’m obligated to this one month rent and am willing to do it because of the agreement, but wanted to know if there was an alternative.
This is wisconsin if it matters.