Please help!

[Delmas Edwards]

The home Im renting is in foreclosure because of my Landlord and the company that manages the property said I have 30 days to decide if I wanna sign another contract with them to move in the houses they have. She stated after the 30 days they will no longer going to manage his property. So it will be and the landlord but I never seen or met him. And he still have my security deposit $1600. And she said they would have to transfer my security deposit to him if I decided to not move in one of the other properties they have. What are my options?

[Benjamin Timmins]

If you like where you are living, talk to your property manager or owner and request to meet the new owner. The new owner will not have a problem meeting you, especially if you've been a long time tenant thats been on time with your rent. Most people don't buy income property to let it go down in value but to make a profit off it. Losing tenants is not the way to make a profit.

If its an actual bank taking it over, you would make payments to the bank, but they themselves would probably be looking to have you leave as soon as your lease as up cause it can be easier to sell a property if its vacant.

If thats the case, Id ask the PM to let you see the other properties that are available, and if theres one you like go ahead and take it. If not, just request that they terminate the lease with no penalty and start looking for a new place on your own.