i've rented an apartment in a apartment complex building.the building was sold 2 days ago.i still live in, and i want to know my rights under a new ownership.nobody told us nothing about.
2007-07-22 00:06:19 · 4 answers · asked by mitrel a 1 in Business & Finance ➔ Renting & Real Estate
depends on the state you live in. as a renter you have certain rights under the law governed by your state. the best place to start is your state website and look under consumer protection or if they have it listed, renters rights. if you have a lease you are not always protected. look over your lease and see if there is a clause that terminates the lease if under new ownership. if there is you are still allowed a fair amount of days to find a new dwelling.
2007-07-22 00:10:58 · answer #1 · answered by mishle 3 · 0⤊ 1⤋
Your current lease remains in full force and effect. In most cases with a complex a change in ownership is pretty much a non-event for residents. You might see a new face or two in the office and as often as not that will only be the manager's face that will change. It's possible that some of the "house rules" may change for the better or worse but the terms of you lease will not be affected by the change in ownership.
If there is a change in the mailing address for your rent you'll be notified in time. As often as not even that won't change.
2007-07-22 08:56:26 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 1⤋
The new owner must honor the terms of your current lease. However, if the apartment is not rent controlled, they do not have to offer you a new lease at the end of your current lease term. They can also raise the rent rate after your current lease expires. But, for the term of your current lease, everything stays the same, except to whom your monthly payment is made payable.
2007-07-22 07:10:21 · answer #3 · answered by TelulahB 3 · 1⤊ 0⤋
If you have a lease and/or a deposit, you should send the new management a certified letter, which includes a copy of your lease, and evidence of the deposit.
When they bought the building, they took on the responsibilities of the prior owner under the lease, and they are also responsible for your deposit, regardless of whether they actually received it or even knew about it.
You should ask for some kind of acknowledgement of those.
2007-07-22 07:47:53 · answer #4 · answered by open4one 7 · 0⤊ 1⤋