I live in Oregon and I am halfway thru a year lease. Recently I found my apartment on a MLS listing for sale. I confronted my landlord about it and he denied it several times before finally admitting the place was for sale. He said if and when there are new owners our lease will have to be renegotiated.
Frankly I am ready to get out of this place due to all the trashy neighbors, so my question is, can I terminate my lease early without penalty since he has listed it for sale?
Thanks!
Passive Income
Related articles:
- How To Keep Your Landlord Happy When Breaking An Apartment Rental Lease Landlords know that sometimes things happen that can cause a tenant to break an apartment rental lease. In a perfect world, everyone would finish out their contract before moving...
- Need to Break Your Lease? View original here: Need to Break Your Lease? ...
- Can I break a apartment rental lease before I have moved in? I am supposed to move in a week and went on a apartment ratings site and found that there are a lot of problems at the apts I signed...
{ 5 comments… read them below or add one }
If you signed a lease you are obligated to keep that agreement. You could be responsible for the remaining months of rent if you move out. Your apartments being put up for sale have nothing to do with your original lease. He is right in saying you can renegotiate if the units sell. If there is severe problems with your neighbors you need to file documented complaints with the landlord. If he refuses to deal with it you can get a lawyer. That can be spendy. Your best bet is to deal with the remainder of your lease and move when it has ended.
no, you have a contract to rent a certain space within a complex. by an act
of sale a potential buyer assumes all the responsibilities of the current owner and he also gets all the benefits.your contract doesn’t change,as a
result of change in ownership.
by the way ,your contract can NOT be renegotiated without your 100%
consent and approval ( by the new owners) until the expiration of lease.
In California the lease should state what would happen to the extent that the home was to be sold. If it does not, the landlord would not be in breach of a contract unless you all had to move before your lease term is up. If it is a month to month then either party can give the notice required by the landlord tenant regulations in your state. If your house is sold by your landlord due to a foreclosure, short-sale etc, and your lease was made prior to the Obama Housing Act and the foreclosure was after the Act then whomever takes the house would take subject to the lease if the conditions of the act are met. Remember under the act, your lease amount could change because you will be required to pay a reasonable rental value for that property in that area…so the bank sold homeowner may be able to change the rent amount. The landlord may continue to receive rent until the sale date whether or not he is paying the mortgage but not after…that rent will go to the new owners who now own your lease. If the home is sold outright and not bank forced, then you must vacate when the new owners close escrow. In this case, the new owners do not have to take subject to your lease or the Act and your only recourse is to either try to negotiate a new lease with the new owner, or move, and if your lease was breached by the owner (not month to month) then you may take him/her to court probably small claims to get damages in the amount of the cost of finding and moving to a similar type of rental and any overage you may have to pay, for a similar rental in a similar area, for the lease period he/she breached. ie: cost 2000.00 to find a house and move, old rent is 1000.00 and new rent is 1200.00 for the remaining 4 months left…damages would be 200.00 x 4 plus 2000.00 which is 2800.00. You would likely win this case. As always getting paid is never guaranteed.
No you cannot break your lease just because the building is for sale.It is really not something that concerns you and your confronting the owner is out of line. What is it that your neighbors do? Or is it simply the way they look or act? That won’t get you out of your lease either. If you have problems with the neighbors call the police because it is not the owners job to police the property.We stopped responding to such complaints last year and advise residents to call the police.
You can’t get out of your lease without penalties and being responsible for lost rent.
Not until a sale goes through. Then you terminate when the new owner seeks a lease.