Can a landlord put that house on the market to sell while tenants are still renting?
Does the Landlord have a right to sell the house while there are tenants living there?
Tags: landlord
Does the Landlord have a right to sell the house while there are tenants living there?
Technorati Tags: landlord
Tags: landlord
This entry was posted on Saturday, September 3rd, 2011 at 9:21 am and is filed under Sell My House. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
September 3rd, 2011 at 9:21 am
Thats the best way to sell a rental with tenants in it.
September 3rd, 2011 at 9:21 am
Yes.
But the new owner must abide by the lease. If it is a fixed year lease they cannot raise your rent during the term of the lease or end the contract. If it is a month-to-month lease they can up the rent or end the lease contract.
Consult your landlord/tenant law in your state to be sure. Just google "Landlord tenant law (your state)".
September 3rd, 2011 at 9:21 am
I own two rental properties that are up for sale. My tenants know that they may have to move if the places are sold. They will be notified asap and given plenty of time to find another place if the new owner wants them to move. This is totally legal to do since I own the property.
September 3rd, 2011 at 9:21 am
only with giving prior warning to the tenants but other than that you should be within your rights
September 3rd, 2011 at 9:21 am
a load of codswallop!he should give you notice,and as your paying the rent you got the rite,see a solicitor
September 3rd, 2011 at 9:21 am
Of course they do. They are the property owner and you’re merely a tenant.
There are some words of caution for you however. If you do not have a lease there is NOTHING that prevents a new owner from going up substantially on your rent.
I had this happen to me once many years ago where my rent literally doubled.
Also, the new ‘landlord’ doesn’t need to honor your lease either.
September 3rd, 2011 at 9:21 am
Yep. A lease does not prevent the place from being sold. The new owners should have to follow the lease but the place can be sold. It happens a lot.
What could be worse is the owner loses the place to foreclosure. Lots of state laws say that in that instance the lease is no longer valid and the tenants can be asked to move out pretty much immediately.
September 3rd, 2011 at 9:21 am
Of course. Why not? It’s his house. READ your lease–Carefully. Generally your lease will continue even if the propety is sold, but sometimes it terminates your lease. Every lease I’ve ever seen requires tenants to cooperate with landlord, by showing house, with advance notice, and failure to do so, or having a total mess, would be a violation of your lease.
September 3rd, 2011 at 9:21 am
It depends on the lease and what it says. If there is no lease, yeah they can put the house up for sale.
September 3rd, 2011 at 9:21 am
Yes. He also sells his contract with the sitting tenant(s), and that contract is binding on the new owner.
September 3rd, 2011 at 9:21 am
yes, he owns the house.
if you want to stay there buy it yourself.