Urban Land & Housing Group – Tenant Tips – What happens if the owner of the property I am renting decides to sell?

What happens if the owner of the property I am renting decides to sell?

There are a number of different scenarios that can occur if the owner decides to sell. These can depend on the expiry and terms of your lease.

If you are within the term of your lease agreement and the property is sold to another investor, you continue to have your rights to the property as a tenant when the new owner assumes the responsibility as your Landlord.

If your lease has expired and the property is sold to someone who wishes to live there, you will be given notice to vacate. You must be given at least 30 days notice to vacate.

Thanks Rach

Posted in Tenant Tips, Uncategorized on 9th March, 2012 | No Comments »

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