Does any know (or know where to find) what the Renter's rights are when a building is sold? We are looking a buying a brownstone in NYC, which has been divided into three apartments. We would live in one, my fiance's mother would live in the 2nd and we would rent the 3rd. Problem being, all three currently have tenants...
Any idea?
2007-02-21 09:03:15 · 5 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
The renters rights are those listed on the rental agreement that is in place at the time of the sale. You can not evict a person that has their rent paid up to date. And you should let a tenant know that you do not intend to re-new their lease 4-6 months before the expiration of the lease. Same time period if you are going to change rental amounts.
If 2 or more tenants are due for renewal, have the Seller inform them that the building is up for sale and that the apartment is no longer available for rent. They may stay on, on a month to month lease until the sale. GOOD LUCK
2007-02-21 09:13:28 · answer #1 · answered by whatevit 5 · 0⤊ 0⤋
The lease agreement transfers with the property and you are bound to it as teh new owner. You would have to evict the tenants - sometimes a difficult thing to do. You may want to make your offer for the property subject to the seller vacating the building for you before closing. That way you put the dirty deed on the seller's side of the transaction.
Do not buy this property until you have a clear plan! NYC tenancy laws could keep you from the full enjoyment of your property...
2007-02-21 09:08:12 · answer #2 · answered by sdmike 5 · 1⤊ 0⤋
Where I'm from, a landlord can give a tenant notice to vacate for the purpose of a) occupying the unit himself or b) having a close family memeber occupy the unit (your mother in law would qualify) or if the purchaser requests a vacant unit when the unit is sold.
So, probably yeah - but check with your lawyer.
2007-02-21 09:15:40 · answer #3 · answered by babypocket2005 4 · 0⤊ 0⤋
hi! i'm from Reno section. because you're literally no longer on a year employ, she will be in a position to grant you a 30 days observe at each and anytime, and would ought to once the residing house sells. As for observe of getting into, i trust each and each state is diverse, yet i imagine Nevada calls for giving a 24 hour observe earlier getting into the resources. is this residing house being rented by a real resources employer or some thing? i'd advise contacting them immediately. If no longer, tell the owner you comprehend for a shown truth that she ought to provide 24 hour observe earlier getting into, and if she does it lower back, tell her she'll listen out of your criminal specialist or perhaps the police (it really is trespassing!). that continually receives human beings to renounce. the internet web site I appropriate below even provides examples of a thanks to respond to those issues.
2016-12-04 11:37:58 · answer #4 · answered by Anonymous · 0⤊ 0⤋
The tenants are probably under a lease, and unless their contract states it, they have a right to live there until that's up.
2007-02-21 09:06:43 · answer #5 · answered by Anonymous · 0⤊ 0⤋