What is a "Notice to Vacate" in Multifamily?

What is a "Notice to Vacate" in Multifamily?

A "Notice to Vacate" (sometimes abbreviated as NTV) in multifamily housing is a formal written notification by either a tenant or a landlord to terminate a lease agreement. When issued by a tenant, it signals their intent to move out by a specific date, while a landlord's notice may be due to reasons like non-payment, lease violations, or property plans. The notice includes essential details such as names, property address, issuance date, and the required vacate date, ensuring both parties are informed and can prepare accordingly. Below is a breakdown of some of the requirements for NTVs:

  1. From the Tenant: When a tenant decides to move out, they provide a Notice to Vacate to the landlord or property management, indicating their intent to leave the property by a specified date. This notice typically needs to be given within a certain timeframe before the intended move-out date, as stipulated in the lease agreement (e.g., 30 or 60 days in advance).
  2. From the Landlord: When a landlord wants a tenant to vacate the property, they issue a Notice to Vacate to the tenant. This could be for various reasons, such as non-payment of rent, lease violations, the end of the lease term, or the landlord’s intention to sell or renovate the property. The notice period is also defined by local laws and the lease agreement.
  3. Contents of the Notice: A Notice to Vacate usually includes the tenant’s or landlord’s name, address of the property, the date the notice is issued, the date by which the tenant must vacate, and any other pertinent information or instructions regarding the move-out process.

A Notice to Vacate is important in the rental process because it makes sure both parties are aware of the lease termination, and gives everyone time to make appropriate arrangements for moving out and preparing the property for the next tenant.

FAQs about Notices to Vacate

How much notice must a tenant give to vacate?

The required notice period varies by lease agreement and local laws, but it is commonly 30 to 60 days.

What should be included in a Notice to Vacate?

The notice should include the tenant’s or landlord’s name, property address, date of the notice, intended vacate date, and any additional relevant information or instructions.

What happens if a tenant doesn’t move out by the specified date?

If a tenant doesn’t vacate by the specified date, the landlord may begin eviction proceedings according to local laws.

Is a Notice to Vacate the same as an eviction notice?

No, a Notice to Vacate is a request to end the lease agreement, while an eviction notice is a legal action taken due to lease violations or non-payment of rent.

Can a tenant retract a Notice to Vacate after giving it?

This depends on the lease terms and the landlord’s agreement. Some landlords may allow retraction if it's communicated promptly, while others may not.

Make real-time data your competitive advantage!

Schedule a demo below to see our multifamily analytics platform and APIs in action.