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SNICKERS | Do she have to pay rent? |
Hello. I have a friend who is renting an apartment. we found out from the landlord herself that she is losing the entire apt. complex. So the banks going to end up repoing it. But the current landlord is still demanding rent, or she'll have all the tenants water shut off, as she pays for the water. Does my friend have to keep paying rent? The owner isn't paying the mortgage. Won't she just be pocketing the money? Turns out she's been in default for at least 2 mnths!!!! HELP!!
MUCH APPRECIATED... |
 |
 
Weimaraner Mom
 |
Regardless of the LL's financial situation your friend is legally obligated to pay the rent. A Real Estate Investment Trust (REIT) will probably take over the ownership of the complex, apartment complexes rarely go into foreclosure they are bought out by other companies to manage and take over and eventually sell for profit. Which might happen in this case, therefore when the new ownership takes over they will review all of the current tenants in the complex and any not paying rent will be evicted. So yes, unless your friend wants to be evicted then she needs to pay her rent timely. |
|
9 daughters
|
Of course she has to pay rent. Another person's financial misfortune doesn't give someone else the right to a free ride. Suppose someone owed you money and you were about to get your car repossessed. Would they have the right to not pay you any more?
Legally, the tenant's obligation to pay rent and the landlord's obligation to pay the mortgage are separate. Neither one affects the other. Another way of looking at it, if your friend stopped paying her rent would that give the landlord the right to stop making the mortgage payment?
As far as shutting off the water, the landlord is required by law to provide certain essential services, running water being one of them. |
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estielmo
 |
Read the lease very carefully. Does it specifically say "tenant does not have to pay rent if I don't keep up the mortgage payments"? I think not.
Her rent and the landlords mortgage are separate items. If your friend lives there she must pay rent. What the landlord does with the money is her business. However, you should know that if she is having trouble paying the mortgage she certainly is having trouble paying the water. How do you expect the landlord to pay for the water if the tenants cut off the only source of income?
Pay rent or be sued and evicted. |
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Jeanne
|
If your friend signed a lease of any kind then she is contractually obligated to pay her rent no matter what the landlord does with it. |
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Peilthetraveler
|
landord probably put up 10s of 1000s of dollars when buying that apartment complex and now the owner is going to lose all that money. Doesnt matter if owner is pocketing it or not, its still his money. Why should your friend get free rent? |
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Matt Jutras
 |
Your friend is still required to pay rent per the lease, the situation with the landlord's mortgage is separate. however, your friend needs to start looking for another place to live.
More importantly, it's against the law for the landlord to threaten to shut off the water...totally illegal. |
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Dennis N
 |
I think it would be wise to continue paying the rent until you hear otherwise on the status of the building. Otherwise, it could come back to bite you if you do stop paying. |
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amberowl28
|
Yes, the landlady's mortgage problems or repossession has nothing to do with paying rent. You signed a lease and you are obligated to fulfil it as long as you live there. Just because repossession proceedings have been initiated does not mean your landlady no longer owns the building. Repossession can be a lengthy affair and she remains the landlady until they are concluded. The bank/new owner will take over your tenancy's and inform you of whats happening when they take possession of the building. |
|
Landlord
 |
Yes, she has to pay the rent. It really is none of her business what the landlord does with the rent money.
HOWEVER, the landlord legally has to pay the water bill, that is your friends business. Call the health department if the water is turned off.
The bank will not foreclosure on the complex for a 2 month default, the landlord has time to get it together. |
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schwildcat1977
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Your friend is required to pay rent until the property does actually foreclose and she is required to move. Foreclosures can take months to years to go thru. The landlord is still legally entitled to rent until the day they lose the property. What she does with the rent money is none of your business! |
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La Vie Boheme
|
If your friend is living there, she has to pay rent. Why should she be able to stay for free? |
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