I rented from an apt (Equity) because of there relocation program. It was great because I knew there was a chance that I was going to move from NC to GA soon as I found a job. The managment company changed but I did not sign a lease with them, but my lease is still with Equity. I wanted to know am I legally binded to the terms of the new company even though I signed a lease with Equity. Equity says to give a 30 day notice, new company says 60 PLUS a month's rent. With Equity it was nothing, just move with a 30 day notice. Please someone help because this is a lot of money that I would have to dish out. Thanks to all who answer.
2007-11-08 15:11:13 · 3 answers · asked by Chinkyeyes 1 in Business & Finance ➔ Renting & Real Estate
You need to read your lease and look for the words "transferable" or "non-transferable" with regards to the management companies. In most cases you would be responsible for the terms of the lease you signed but not necessarily if it states in the lease that they can sell out to another company at any time. Read the fine print.
2007-11-08 15:30:15 · answer #1 · answered by Lily 7 · 0⤊ 0⤋
A signed lease is a legally binding contract. New owners should have to honor the leases that have been signed and things change when you sign a new lease. Be sure to look your lease over and see what loopholes are in it. New management may try to enforce their rules, but they can't change your lease unless they have found an out in your lease. Best bet is to contact an attorney. . .but then that will cost you as much as just paying up. I would read every word in my lease. If there are no outs, I would ask they why they are not honoring the signed lease that you have. To me, if they were not going to honor your lease, they should have given you some type of notice before they took over and made some type of offer to you-basically new lease or move and then you would have recourse with Equity.
2007-11-09 01:08:39 · answer #2 · answered by towanda 7 · 0⤊ 0⤋
It is not your fault that the management company changed. I would contact the past management company (if still around), explain the situation and see what they say. I would then contact present management company and help them to understand your agreement was not with them and their terms were not yours when you signed lease. I don't think they can enforce any action against you and if they try to report you to a credit bureau, you could always protest it and have something on file with them to dispute any negatives.
2007-11-08 23:21:57 · answer #3 · answered by drewxjacobs 6 · 0⤊ 0⤋