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Mari12 | If my landlord terminates lease because she sells property what r my rights? |
My contract ends in october of the next year but my landlord is selling the appartment now. The owner-to-be wants to take bigger rent ftom tenants of the appartment than we agreed to pay to my present landlord. |
 |
 
godged
|
Wow, an appraiser with a wrong answer! I hope Mike (the poster in here that is a big fan of appraisers who regularly trashes Realtors) sees it!
This answer will vary by area and your lease. In my area, you have tenant rights, which means the new owner has to honor your present lease, or evict you and start over with their lease. Some leases will address what will happen if the property is sold, so you'll need to check that.
Most areas have a landlord/tenant association, contact them to see what your rights are. |
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goz1111
|
OK assuming this is within the USA, in general most states require that the new owner of a rental unit to be bound by the terms of the lease with the old owner until the lease expires
do not sign anything new, the new owners are bound by your lease hold them to it
side note: even if your lease agreement had a provision which would allow the landlord only to terminate the lease early for a sale, would most likely be ruled invalid based upon contract law of mutuality within the contact |
|
Expert Realtor
 |
Ok, if your lease doesn't end until October 2008, then your new landlord is stuck with the terms that YOU originally agreed to.
A lease that is still in affect, transfers with the property, upon sale.
The new owner is going to be in for a big suprise, but see if you can get a Realtor to help you find the local statute in your state so you can copy it and send it to the new landlord if they send you a notice that rent is increasing.
Also, your security deposit should be with the new landlord...that transfers as well. |
|
Goodbye
|
I went through a similar situation. I had a real nice professional landlord, he was an older man and he ended up selling the property to these "property management" people. I had to go sign a new lease with these mgmt people, but the terms were the same as they were with my previous landlord. But then, they later told me that they screwed up and and that I had to pay electric and gas and plus $100 more in rent! I basically told them that because there was a current contract in affect to speak to my lawyer (which I don't even have one..lol) they backed off of me.
If the current lease is in affect, they can't make you do anything. The contract you signed just ended up in someone else's hands. But if there's somewhere that states the lease is expired if it changes owners, then sorry, you'll have to do what they want and property managements are terrible people to work with, they want more money and they won't take care of the place..so it's best to get out while you can. |
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tonalc1
 |
A landlord is not generally entitled to break a lease to sell a property unless the lease includes a provision explicitly allowing him to do so. Check your contract.
Also, research your state laws. In California, unless stated in your lease otherwise, the new owner has to honor the lease; also, the old owner needs to transfer your deposit to the new owner. |
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Spock (rhp)
|
you need to check your landlord-tenant law -- google will find it ["location" "tenant law"].
here in America, some states require the new landlord to honor the old leases and other state allow the new landlord to cancel old leases.
the details of how the property transfers in some states, but not in others.
GL |
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Curtis R
 |
check your lease, but this happend to me once! |
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***~***
|
Check your lease agreement. There may be a clause in there where this is permissable. If it is, unfortunately there isn't anything you can do. |
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Phil M
|
I can assure that in your lease there is a provision that allows the owner to sell the property under any circumstances so long as you have notice. With that provision, you should also be able to negotiate directly with the new owner/property manager and dicuss your rent. You should also have the option of being let out of the lease.
You don't have any rights to keep your place at the rent you agreed to prior if the contract states otherwise. Which is normal.
This is one of those reasons/advantages to owning a property vs. renting. Tough little scenario you've been put in. |
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John's mommy
|
check your lease for sure, but typically when this scenario happens the only thing you are really entitled to is either 30 or 60 days notice to find another place to live, and hope that you get your security deposity back. |
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countryguyhfc
 |
Probably not much you can do about it. The new owner can do what they want with the property, including evict any and all current occupants for no reason. |
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needlewings
|
Well, you are not obligated to have to pay the higher rent so you will have to move I suppose, but I think that you have 30 days to do so. I don't know that happens to any deposits or anything since they were with the former owner. Tough one, You might talk to a lawyer about this. |
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kirk m
|
Unfortunately, the contract you signed is null and void as the owner of public record has no obligation to honor it. Typically, a new property owner will continue the original leases until they end. It appears the original owner sold for a tremendous profit and the new owner cannot maintain liquidity at the current rents. The only recourse you have is the threat of a mass moveout or speaking to the new landlord and hoping for mercy(unlikely). Sorry, you may have to eat the new rents or move right after you moved in, bummer. |
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