What are my rights - Landlord/Tenant Question?

Question

I am renting a property through a letting agency, and moved in in Aug 06. I signed a 12 month Assured Shorthold Tenancy Agreement.

I have just recieved a call from the letting agency stating the Landlord is thinking of selling up.

My question is this: What happens to me if the landlord sells the property. Does the new landlord have to honour the existing agreement or can I simply be thrown out?

Regards

CY.

Sorry,

I live in the UK

AMSTERDAM: even though the landlord is thinking of selling, I had a valuer around just now. Does this mean that things are moving quicker?

Answer 1

It really depends on your lease. I went on-line a read a sample of your lease at http://www.letlink.co.uk/GeneralInfo/AST_RA02_Agreement_Notes-pdi2.pdf

It appears that you should look in section 9 under Additional clauses and look for a "break clause". Generally, if that clause is inserted, the landlord may break the clause with two months notice. If that clause is not present, the landlord can not.

Long story short. Read your lease. If the lease does not have a break clause, if the landlord doesn't want you to stay - he/she has to pay you the remainder of the lease. However, new landlords generally want the existing tenets to stay since it is guaranteed income.

Good luck

Answer 2

You'll really need to look into the laws in your particular state to be sure on this.

But first i'd check the paper work you signed. Chances are if its being done by an agency, they are going to do everything legally. That doesn't mean fairly, or even that they are boarding on the law, but they will probably follow the law none the less.

It also depends on the type of property. If its a single family residence, then chances are the person buying it will want to live in it. If its an apartment in a building, then chances are the person buying it will have the intent on having tenants, and you won't be kicked out. You will most likely have to sign a new rental agreement though.

Like I said before though you'll really need to look into the laws for your particular area. Not knowing where your from limits my answers. As far as I know this is not an illegal practice is any of the 50 states, but I don't even know if you live in the US.

Answer 3

I'm not sure exactly what the laws are there but usually if a property is sold that have tenants still living in the building, the new owner does have th option of getting rid of the old tenants and getting new. But they can not just trow you out they have to give you a 30-day notice to vacate and if you don't move in those 30 days they then file it in court they then get a court date then at the court date the judge will give you 10 days from then to move out. So if you prolong it it can take a while, or you could just move in the 30 days.

Answer 4

It feels like the owner is making an attempt to assemble as plenty funds now until eventually now taking your son to courtroom and/or collections. At this component, your son ought to easily tell the owner that he has each and all of the money obtainable. Verbal discussions are pointless. the owner's verbal contract grant would not propose plenty and in all danger did no longer waive the owner's staggering to hold your son to the unique apartment contract. Your son desires to place all discussions in writing because of the fact this might end-up in small claims courtroom. ensure your son sends a written word, maximum appropriate by way of qualified Mail, to the owner that he has vacated the place of abode and verifying the words of the previously pronounced contract grant. otherwise, the owner can nevertheless take your son to courtroom for an eviction considering he did no longer pay his finished month's lease. examine your state's landlord tenant rules, however the owner is in all danger nevertheless required to grant an extraordinarily final accounting of the protection deposit interior 30-days of pass-out. Your son can nevertheless dispute the restore and cleansing expenditures (even nevertheless $a hundred and twenty.00 for a door isn't unreasonable if exertions is blanketed or that's a custom length). additionally, anonymously call lower back the owner generally and notice if the unit is obtainable for lease or has been re-rented. in many states, the owner ought to make an excellent faith attempt to re-lease the unit and the lease ruin fee can't exceed the owner's unquestionably damages (loss lease, turnover, etc.).

Answer 5

Please don't worry, your Tenancy Agreement (TA) continues until August 2007. Apart from anything else, your landlord is only "thinking" of selling, by the time the sale (if any) goes through, August will have been and gone, anyway.

Speak to your letting agents, and ask them to keep you abreast of developments. If new owner want the property to live in, they must honour the existing TA and will have to wait till your TA expires, but most likely is another landlord will buy it and you can stay.

Answer 6

if your landlord is selling with a sitting tenant then your safe for now
but the new landlord will ask you to sign a new tenancy agreement
but it looks like your sitting on ice at the mo.
the landlord can evict you to sell the property
but they need a legal reason
go to your citizen advice a.s.a.p for help
also if you have children get on to your local council too
your gonna need help here and soon

Answer 7

it may be in your contract that they can serve notice on you - probably a month or so - check this first. if not then they will either have to sell with you as a sitting tenant( so to another investment buyer who then becomes your new landlord) or they cannot complete the sale til the end of your tenancy.

Answer 8

I would think they can sell after your lease is up if it is stated in the lease paper work But if he sells before you your time is up it is either bye bye or a new landlord talk to the landlord now and ask him what his plan is

Answer 9

Go and see the CAB; I think he has to honour it or pay you compenastion but you need to take a copy of the agreement with you so they can look at the fine print.

Answer 10

WHAT a good question.
I think you should have a word with the 'letting agency'
as they should know more, but I think you can stay put, unless it is going to an 'owner occupier'.