The tenants have not been notified by the owner or the bank.
2006-12-27 17:30:32 · 4 answers · asked by Nichelle H 1 in Business & Finance ➔ Renting & Real Estate
The tenants will be forced to move with the finalization of the foreclosure.
2006-12-27 17:42:22 · answer #1 · answered by slick chik 3 · 0⤊ 1⤋
If you have a lease, don't worry! The new owner must abide by the terms of the lease. This is not an option for the new owners; no eviction, no rent increase, nothing will change for you except maybe the mailing address of the landlord.
If it's a multi-family complex, don't worry! There could be a few rule changes with the new owners, possibly some rent increases (unless you have a lease), but they're not going to kick everyone out. The new owners still need the rental income. The only change you'll likely see is a new mailing address for your rent checks.
If it's a small property -- 4 units or less -- and if you're month-to-month there is a chance you could be required to move. The usual notification rules still apply, i.e. you'll be given 30 days notice to move.
2006-12-28 02:39:41 · answer #2 · answered by Bostonian In MO 7 · 1⤊ 0⤋
That only means that the owner needs to pay up, it should not effect you unless the property is sold and the new owners do not want to rent it out. You could check with the bank about what is going to happen with the property (if they can give out that info) or talk to your landlords to see what is going on. If you want to be safe....look for another apartment.
2006-12-28 01:44:30 · answer #3 · answered by redy2screm 3 · 0⤊ 1⤋
Get packing then you may have to take the landlord to court to get back your deposit .
But once a judge has given a 30 day notice and nobody argued asking for more time you have no choise .
Day 31 the court officer will come and place your stuff at the curb
2006-12-28 01:44:18 · answer #4 · answered by Robert S 3 · 0⤊ 1⤋