Our landlord told us yesterday (mom and I) that the property owner wants to sell it soon. After Thanksgiving people will be touring the home to see if they want to buy it.
Landlord says the owner can break the lease when he pleases. This worries me.
I would like some help from good hearted and well knowledgeable landlords or owners that can help us find a new home.
@Jeremy Shanks - you may want to consult a lawyer (as it may take a letter from one to shut this down). I don't know laws in your locale, but have never heard of anywhere that doesn't require a lease to be honored even if ownership changes. The only scenario I know of where the landlord can terminate a lease without cause is if it is their personal residence (i.e. if you are the landlords roommate). I would suggest reading your lease to see what (if anything) it states about what occurs upon sale and when the landlord can terminate early. Bottom line is that there is a very low likelihood that they can legitimately kick you out.
@Jeremy Shanks - you may want to consult a lawyer (as it may take a letter from one to shut this down). I don't know laws in your locale, but have never heard of anywhere that doesn't require a lease to be honored even if ownership changes. The only scenario I know of where the landlord can terminate a lease without cause is if it is their personal residence (i.e. if you are the landlords roommate). I would suggest reading your lease to see what (if anything) it states about what occurs upon sale and when the landlord can terminate early. Bottom line is that there is a very low likelihood that they can legitimately kick you out.
@Jeremy Shanks First read your lease and then look up local tenancy laws. In most places, the landlord can't break the lease without proper notice just because they are selling. They need to give 30 or 60 (in some places 90) days' notice.
@Michael Seeker I was thinking this too. The information we got was vague. Maybe buyers will come, tour then move in after lease. Will definitely be looking into the lease agreements
Look at the lease to see what it says. Look at your local laws. If it is a yearly lease vs month to month you will have a different timeline for moving. In most cases he must give you written notice of termination so saying he wants to sell the house and it will be shown after thanksgiving normally isn't enough for official termination.
In any case you will likely be moving at some point, it is his house and he has a right to sell it. Unless he sells to another investor which is not a sure thing you would be moving so I would plan on it. The sale is a process that will take time. Showing, offers , 30-60 days to close. Use the time now to look for a new place. Find out his position and try to negotiate with him that since he is selling can you mutually terminate the lease when you find a new place, without penalty. If you want to stay until the end of lease and have the right to do per your lease that is an option but is it worth it if you will be moving in the end? Hope that helps.
Everything will depend on your lease and local laws. Every state that I know of, the new owner must honor any existing leases. If you have a 1 year lease, its still valid. Only exception is if there is a clause in the lease that states that it is canceled when the property is sold. I don't think its very common, but read your lease thoroughly. If its month to month, its valid, but new owner can give you notice at any time, same as old owner.
Unless we see your lease or know the length of lease, everything is speculation. I don't see the the landlord as pulling a slick one on you. I see the landlord as notifying you of their intent to sell the property.
I'm inclined to agree with what others have noted above. In most cases I'm familiar with, the new owner has to honor the existing lease until end of lease term. Definitely seek out legal counsel because this sounds like they're planning an illegal eviction, but again, that is purely speculative.
The landlord has to abide by the terms of the lease and so would the new owners. He also has to give you 24 hours notice of a showing. You could cook cabbage or fish frequently so the place stinks but is still clean - a real turnoff for a buyer who plans to live in the house, but not for a investor.