Tenant Seeking Advice in Austin, TX
Hello!
I currently rent a 3/2 SFH with a roommate in Austin, TX. We moved in March 2020 and renewed our lease in March 2021. My landlord told me earlier this year that he plans to sell this home and gave us the option to sign a 6 or 12 month lease. I am in the process of doing my due diligence and purchasing my first house hack, so I signed a 12 month lease (extending my stay until Mar 2022). My landlord told me that I can break the lease a month or two or more early if I find a deal. He will likely need a month to perform small repairs, paint, etc. in order to get the home market ready.
So, my landlord contacted me the other day and asked if I am able to move out early (next 2-4 months) as he wants to sell sooner than anticipated. I realize that I am protected by the lease agreement; however, I am sympathetic to his desire to sell while the market is hot. Especially, considering his willingness to let me break the lease early. However, I don't want to rush the buying process.
I should add that my roommate and I have been excellent tenants. The best they've ever had according to the neighbors.
A real estate agent friend mentioned that the lease must be honored even in the event of a sale and that some buyers are looking for built-in tenants.
Thoughts?