Question: I want to sell my building. Do I have to provide a 120-day notice to my tenants prior to listing or showing the property? Is the 120 days a waiting period before any activity can take place??
Answer: There is no specific requirement to notify a tenant that the property is for sale. However, there is a special notice to use for showing the property. The 120-day notice relates to the right of entry to show the property — it is not prerequisite to selling the property. California law allows the landlord to provide a written notice that the property is for sale – and for 120 days thereafter the landlord may schedule entry to the unit to exhibit it to potential purchasers with an oral (e.g., by phone) 24-hour notice, rather than a written 24-hour notice. Notice that property is for sale and will be shown: Notice that Property is for Sale and Will be Shown • California Apartment Association (caanet.org)
For more information, see Entering the Rental Unit: Owners’ Rights and Limitations. You can find the standard 24 hour notice and instructions here: Twenty-Four Hour Notice to Enter Dwelling Unit/Premises.
When selling a property, you should have an Estoppel form completed by the tenants which provides notice of the terms of the rental agreement to the new owner. CAA’s rental/lease agreements require the tenant to complete this form. See form and instructions here: Residents’ Certification of Terms: Estoppel Certification.