Step 18 to Buying a Home: Give Notice To Your Landlord
Now it’s getting real.
If you’re currently renting, you need to give notice to your landlord that you’re going to be moving out. If you have a month to month lease, then you only need to give 30 days’ notice. If you have a yearly lease, you need to give 60 days’ notice before your lease term ends if you’re planning to move out. For instance, if your lease ends October 1, you need to let the landlord know by August 1 if you are going to be renewing your lease or are moving.
What if you have a yearly lease, but it doesn’t end for quite a few months? Then you’ve got a few options:
- We can try to push closing back to the end of your lease date. If that is of interest to you, please let me know.
- We can find a new tenant to take over your lease. Your landlord will have the final say, but typically they will be happy to have no interruption in tenancy.
You can choose to keep both places for the remainder of your lease so you have plenty of time to leisurely move from your rental apartment to your new home. This does mean paying the monthly rental payment plus your mortgage payment for the remainder of your lease.
Go back to Step 17 to Buying a Home: Removing Contingencies, go forward to Step 19 to Buying a Home: Schedule the Closing on Your Calendar.