What Happens If Your Landlord Sells?
Category Principal's Message
Landlords can sell a property at any time, but active leases remain valid until their terms end. This principle ensures tenants can stay until the lease expires, with the new owner inheriting the lease's terms. Tenants' rights include keeping their lease intact and staying in the property unless they breach terms. Landlords can't terminate leases due to a sale. Tenants may leave early if their agreement allows, but notice and fees may apply. Tenants must provide reasonable access for viewings and showings, minimizing disruption. Once the lease ends, tenants can leave or negotiate a new lease. Buyers inherit lease obligations and should ensure they receive the security deposit from the seller. Open communication with tenants helps ease transitions. Both tenants and buyers should understand their rights, and seeking professional advice can aid a smooth process.
Author: Prime Property Marketing
