Are you googling, ‘what rights do I have if my landlord wants to sell the property’ out of fear? We’re here to help you through these hard times so you know what to expect and how to navigate this situation.
What rights do I have if my landlord wants to sell the property?
The specifics of the following points may vary depending upon your local laws and your state, but generally, the rights listed below are ones you can rely upon. If you want to speak to an expert about specifics, you can ask our friends at JustAnswer! You can also check state landlord-tenant laws here.
- Basic tenant rights still apply. Your landlord cannot cut off electricity or water, threaten eviction, enter your rental unannounced (unless it is an emergency), or hire construction or remodeling to keep you up late at night. Your landlord also should give you reasonable notice, which is usually 24-48 hours, before showing your unit to someone else. These showings must be done at reasonable hours, which means your landlord should be communicating with you to find a time that works best during the day.
- Check for a ‘lease termination due to sale clause’. The contract you signed may have already provided answers for you in the event that something like this happened. Beware that according to the termination clause you may have to move out within thirty days even if you have a long-term lease agreement.
- Your landlord might offer you a lease termination payout. This means your landlord might pay you to move out sooner than your lease says or earlier than the typically required 30 day notice. This is often called ‘cash for keys’.
- You don’t necessarily have to move. Your new landlord may be happy to sign a new lease with you and the other current tenants once the sale is completed. You can contact the new owner to see if they are open to it and what their terms would be. You may have to move if the owner does not want to create a new lease or if their terms don’t work for you.
- If your lease has been signed for the long-term such as a year or two, you likely have the legal right to stay where you are currently renting, depending on your contract.
- If your lease is on a month-to-month basis, there is still a chance you can stay where you are. If not, your landlord is often required to give at least 30 days of notice for you to move out.
- Depending on where you live, your landlord may grant you a tenant relocation allowance. It is rare, but depending on your location and the circumstances, your landlord may actually pay you to move out.
- You are still entitled to your security deposit. We have this article and this article that can help you understand the circumstances and process to receiving your security deposit back – hopefully in full!
I have more questions!
Don’t worry, we have a few articles you may be interested in.
- Click here for answers related to your lease.
- Click here for answers related to your landlord.
- Click here for answers related to housing.
- Click here for answers related to homelessness.
- Click here for a ton of ways to save money.
- Click here to learn about getting free stuff.
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