Before selling, the owner can draft a lease with the tenants that specifies the rent and the allowable rent increases. The lease could have auto-renewal at tenant's choice. If a lease could last longer than 3 years, the signatures of landlord and tenant must be notarized for the lease to be enforceable. Provide a copy of the lease to any buyer, so the terms of the lease would be binding on the buyer. The tenant could also record a memorandum of lease in the county recorder's office so that it applies to any subsequent owner. Use the Find a Lawyer tab to retain a local real estate attorney who can draft the terms of the lease and record a memorandum.
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