Renting while apartment is for sale

By Tenant

A tenant will be affected in several ways when the landlord or owner decides to put his investment property on the market.  However, if a fixed agreement was signed between the tenant and the landlord, the landlord cannot evict the tenant just because he decided to sell the property. The tenant can still continue to live in the property up until his lease agreement ends and the new owner of the house can decide whether he would still want the property to be rented by them or not.




Here are some fast facts all tenants should know if the owner decides to sell his investment property.

  • A notice of lessor’s intention to sell the property must be given to the tenant indicating in what way the owner wants to market his property.
  • Before holding any open house or onsite visits to the property, the landlord must provide a written request to the tenant and if the tenant approved the request then and only then can the landlord hold open house and onsite visits.
  • If the tenant was not informed of the rental property being put to the market at the time of signing the lease agreement then the tenant has the option to end the lease agreement by giving the landlord a two weeks’ notice to quit.
  • If the property owner decides to hire an agent to sell his unit then the selling agent also needs to give the renters of the property a copy of the entry notice before he can enter the property premises.
  • A notice to vacate from mortgagee to tenant is given if and only if the rental property is recuperated by a financial institution or a bank in which the bank did not agree to the property being rented in the first place. The financial institution can give the tenant two months to leave the property and 30 days if the property is used for rooming accommodation.

Edited on: Tuesday, March 19th, 2013 1:10 am

15 Responses to “Renting while apartment is for sale”

My response: (We welcome stories, examples, explanations, answers and a touch of your personality)
 

Myrl

March 19th, 2013 1:20 am

Why would you sell your property in the first place if you agreed for someone to live in it?


Ashleigh

March 19th, 2013 10:40 am

Having a tenant rent the property during the sale serves a purpose for the landlord to continue to have an income while the property is on the process of going to the market.


Trenton

March 19th, 2013 8:00 pm

It is a plus to the landlord if there are still tenants living in the property while it is for sale for it can attract many investors who are looking for a primary residence.


Jolene

March 20th, 2013 5:20 am

WTF!? My landlord cannot sell it while I still have 8 months on my lease.


Isobel

March 20th, 2013 2:40 pm

Doing open houses while someone still resides on the property can cause a lot of issues and disputes.


Verla

March 21st, 2013 12:00 am

Is it illegal for my landlord to do open houses without our consent?


Andrea

March 21st, 2013 9:20 am

Can I sue my landlord for this?


Robbie

March 21st, 2013 6:40 pm

A real estate agent is doing some house visits and open houses that lasted until the wee hours of the night


Sheldon

March 22nd, 2013 4:00 am

I suggest to tenants who have this kind of situation right now is to get the hell out of there before the open houses and house visits even starts. It can become a real hassle to you and your family.


Roselia

March 22nd, 2013 1:20 pm

You should make limitations as to where the agent can show the property.


Rudolph

March 22nd, 2013 10:40 pm

Reiterate to the owner or sales agent that the bedrooms are off limits to prospective buyers to prevent dealing with awkward situations.


Reynaldo

March 23rd, 2013 8:00 am

Can I sue the real estate agent for trespassing if he insists on entering without our permission?


Bryan

March 23rd, 2013 5:20 pm

I hate dealing with sales agents who will do anything just to have a sale.


Joan

March 24th, 2013 2:40 am

Sales agents and landlords should respect our rights as a tenant.


Merlin

March 24th, 2013 12:00 pm

Can I ask for a rent deduction from my landlord for having to experience all this hassle over him selling the rental property?


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