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What's my renter's rights for landlord selling the house while I have a lease until December?

Discuss anything to do with property law - buying, selling property

What's my renter's rights for landlord selling the house while I have a lease until December?

Postby ear » Mon May 21, 2012 2:01 am

I am renting a house and have a lease agreement until December. I just found out that the house is for sale. My landlord is counting me to stay (counting my rent) and he does not want me to move. I don't know if I want to stay there while potential buyers will come look at the house. Can I move because of this?

Also, if the house is sold quickly before the lease is up, and the new owner does not want me to stay. What's my rights? What kind of compensation I will going to receive when the new owner terminating the lease agreement from the previous property owner.

Thank you for your advise.
ear
 
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What's my renter's rights for landlord selling the house while I have a lease until December?

Postby artzai » Mon May 21, 2012 2:03 am

You signed a lease. The lease stands whether or not the house is sold.
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What's my renter's rights for landlord selling the house while I have a lease until December?

Postby gideon » Mon May 21, 2012 2:04 am

The new owner must honor the terms of your lease.

realtor.sailor
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What's my renter's rights for landlord selling the house while I have a lease until December?

Postby brenn15 » Mon May 21, 2012 2:10 am

If the house is sold the new owners will become your landlord until your lease is up.
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What's my renter's rights for landlord selling the house while I have a lease until December?

Postby artzai » Mon May 21, 2012 2:12 am

You would not be able to break your lease because the landlord is selling his home. As a landlord he has the legal right to show the home to prospective buyers even when a tenant is living in the premises. You do have a right to expect proper notice as per your lease agreement and your state's tenancy laws. For example if the showings become "excessive" or if the hours of viewing are inappropriate you can discuss this with the landlord and work something out.

Since you have a lease that expires in December you have a legal right to remain in the premises until that date. The landlord has the following options if he sells the place before your lease is up:

1. he can postpone the buyer's possession date until after the lease expires
2. he can offer you financial compensation such as moving expense and/or a couple of months rent or whatever you both agree on
3. the new owner can offer you monetary compensation as an incentive to have you move out.

You are not obligated to accept just any offer they present to you.
artzai
 
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What's my renter's rights for landlord selling the house while I have a lease until December?

Postby osryd » Mon May 21, 2012 2:18 am

Consider yourself fortunate your landlord informed you the house is for sale. Legally that is not required.

The new owner has to honor your lease until it expires. The terms and conditions of the lease apply to the new owner.

If the new owner wants you out before your lease is up, then this is good. Make the new owner an offer to move out and shoot for the stars!!! You might end up with a nice stash of money that will help you pay for your move and the security deposit plus much more.

Finally there is an unofficial rule I call crap or get off the toilet. If someone is interested in buying the house then you have to allow the owner to show the house with proper notice. But if a prospective owner wants to see the place multiple times then you have the right to tell the current owner and future owner to get lost. If a person has to see a property more than 3 times then don't put up with that. Tell your current you don't have time to waste on people who can't make up their mind.
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What's my renter's rights for landlord selling the house while I have a lease until December?

Postby kirklin » Mon May 21, 2012 2:33 am

Your lease is good until december. The new owner MUST honor the lease.
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What's my renter's rights for landlord selling the house while I have a lease until December?

Postby bearchan » Mon May 21, 2012 2:42 am

The sale does nothing to terminate your lease. You cannot interfere with the sale of the house, showings, etc. and while a new owner may make present an offer to entice you to move early, you're not obligated to.
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