2007-03-22 08:47:22 · 13 answers · asked by Erica P 2 in Business & Finance ➔ Renting & Real Estate
we are not on a contract anymore and now on a month to month base. what can happen?
2007-03-22 08:54:06 · update #1
There are two things that can happen that you won't like, but the fact is that they could both happen under the original landlord anyway, since you don't have a current written lease.
1. they can raise the rent
2. they can ask you to leave.
Your state law probably requires them to give you a full rental period notice of either.
And no, they don't have to tell you about the sale, but if the buyer has any sense, they will demand that the seller get a letter from you acknowledging the amount of monthly rent, and the amount of the deposit you paid.
2007-03-22 08:57:39 · answer #1 · answered by open4one 7 · 1⤊ 0⤋
Yes, most likely he can sell the property to whomever he wants. I seriously doubt your lease says that he has to notify you if the property is sold, since he is the one that probably made up the lease.
Usually in this situation, the new owner will be obligated to honor the existing lease until its expiration. After that he can ask you to leave or resign a new lease with you.
Read your lease, it will give you a better idea of what you are lookin at.
2007-03-22 08:53:45 · answer #2 · answered by shmigs 3 · 0⤊ 0⤋
It is his property and yes, he can sell it without his tenants permission.
The new owner will have to abide by any leases that are in place. If you don't have a lease, the new owner can ask you to sign one or continue you month to month like you are now. Unless he has some reason to evict you, he probably won't. After all, he is buying a rental property and it is to his benefit to have tenants living there.
2007-03-22 08:59:54 · answer #3 · answered by Faye H 6 · 2⤊ 0⤋
Yes it is his/hers to sell. If you had a contract, then the owner would have to sell with the stipulation of a rentor already in place. That extends your contract to the new buyer. You don't have a contract so make nice with the new owner or get ready to move.
2007-03-22 09:02:58 · answer #4 · answered by Zee HatMan 3 · 0⤊ 0⤋
It's all down to what it says in the contract. I think he/she has to give you notice before evicting you but it depends whether there is a get out clause in the contract. Give it a read and see what you signed up to.
2007-03-22 08:54:09 · answer #5 · answered by lloydwooduni 1 · 0⤊ 0⤋
yup... they do it all the time. Your probably not going to notice any difference except you'll be paying a different company. Your contract that you signed in the beginning will stay the same.
2007-03-22 08:52:22 · answer #6 · answered by babydragonspawn 3 · 0⤊ 0⤋
Yup-Completely.
2007-03-22 08:53:08 · answer #7 · answered by my2cents 3 · 0⤊ 0⤋
yes, that is totally legal
He doesn't need to tell you he is selling unles there is something in your lease that states otherwise.
You can sign a 1 year lease with him though before he closes escrow though if he will allow that.
2007-03-22 09:55:53 · answer #8 · answered by Santa Barbara 7 · 0⤊ 0⤋
The new owner could give you notice to move. It is legal.
2007-03-22 10:09:20 · answer #9 · answered by kingstubborn 6 · 1⤊ 0⤋
my landlord did the same thing and then the new one wanted me to move out as soon as he bought it so that he and his family could move in. I just kept delaying until winter and then he didn't want to move in winter so i am still there.
2007-03-22 08:52:50 · answer #10 · answered by crarmy73 2 · 1⤊ 0⤋