Our townhome that we rent out is in Valrico FL, will soon be sold from my understanding. This notice was given to my family on short notice.
The owner will be having people tour the place sometime after Thanks Giving. Thus we need to find a new area to move into quickly.
It also doesn't help that our owner can break our lease whenever they please?
I really could use some guidance on finding a new place locally. Preferably no more than $1000 a month.
Jeremy, typically the new owner has to honor your lease agreement until it expires otherwise they would need to evict you. Unless your landlord added a clause that allows them to break the lease whenever they want. I'm not an attorney or familiar with your local rules and regulations, but that's just my two cents. In terms on finding a new place your best bet is to look up local real estate agents in your area who can guide you or check out sites like Zillow and Trulia.
He probably means tour while you are still renting. He has to give you notice and is giving you excessive notice to be nice? If you’re on a month to month of course you could be non-renewed any time, selling or not, your state will set the time frames, maybe 30- 60 days?
If you have a lease you may have to move out at the end of it if the buyer wants to move in or select their own tennants. Same would be true if the bank was foreclosing on the property for non-payment. Any “reasonable leases” must be honored. (This had to be added after people being foreclosed on figured they would rent their house to their parents for $5/mo for 10 years and try to make the banks honor them.)
Long story short, you won’t have to move out any quicker because it’s being sold than if the landlord just didn’t renew your lease at its end
Hi Jeremy, sorry to hear you're dealing with a situation like this. The upside is at least you're down in Florida. Up here in Chicago moving is dreaded in the middle of the winter. Having said all of that, there are usually laws in place which make it so that the new owner has to honor that lease. Now, there's a chance a rent increase may happen at the end of this lease headed into a new one (if the new owner presents that option). Still, there are definitely some good options out there that can help you to keep your expenses low if you're in the process of applying to new places (rather than paying multiple application fees, you can pay one and share it with other landlords -- as long as you have an email address for that landlord). I hope everything works out!