i live in florida and renting an apartment from century 21..well someone shows up a few days ago with a foreclosure notice for the apartments..well century 21 don’t own the apartments, but another individual does…i’m thinkin maybe the owner of the apts. didn’t tell century 21 anything about this because they didn’t know…am i still required to pay the rent for my apartment…i live in the state of florida
Real Estate Professionals
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Your legal obligation (rent money/lease) is still in effect no matter what is going on with the owner.
So, yes, pay your rent but start saving money to move. As long as you have a lease they cannot kick you out prior to the end of the lease, but the writing is on the wall.
Good luck.
Just because the place is in foreclosure its not something that happens overnight the owner of the place could be making arrangements to become current with the mortgage payments. If you dont pay you can be evicted.
Yes you still have to pay your rent, but I would start looking for another place to live. I am sure he owns it, but still owes a mortgage to Century 21 obviously. The new owner could take over our lease if they wanted, but you are pretty much stuck until he loses the apartments completely, he should have a 60 day redemption period.
Yes, you still pay rent.
Foreclosure does not translate into “get out of paying your rent and living for free”. As long as the owner retains possession of the property you are still bound by the legally binding lease you signed. When and if you hear from the trustee, continue to pay rent or risk eviction.