My apartment complex recently became acquired under new management. They are going to inspect each unit's carpets, appliances, flooring, etc. I'm wondering if they are converting to condos. If they would convert to condos, how would that impact the current tenants and the lease agreement? Or maybe they are just going to renovate and upgrade the appliances? I asked them but they didn't divulge much info and I'm curious as I'm paying hefty rent. Any ideas and feedback are appreciated. Thanks!
2007-02-26 13:22:43 · 2 answers · asked by TuKu 2 in Business & Finance ➔ Renting & Real Estate
Oops! Sorry I meant HOW do I know...
2007-02-26 13:25:41 · update #1
Contact the new owners again and ask the question directly. If they don't answer, contact your city planner's office to see if they have filed a permit to do a condo conversion on your site address. If so, you'll know for sure. If not, it's still an open question.
2007-03-02 05:42:09 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Your current lease will not be affected in any way, since a lease is a contract between you and the owner/manager of the property. New management taking over does not invalidate a lease. If there are plans in the making to convert to condominiums, there isn't much you can do about it, once the end of your lease arrives. I'd guess that you're creating yourself worry where none is needed. It is quite common for new management to inspect the condition of all units so that the owner of the building has a good idea of his situation relative to costs of upgrading and upkeep.
2007-02-27 20:26:23 · answer #2 · answered by acermill 7 · 0⤊ 0⤋