Post # 1
So, we were told our apartment building was being put on the market a few months ago.
For the past week and a half, we’ve had people traipsing through our unit for 2-5 hours every day. It’s been incredibly stressful (and has felt kind of violating, frankly) to have people poking around our home.
We just got a call saying someone’s put an offer on the place and tomorrow they’re coming in for a home inspection.
I just feel like I can’t relax with all the uncertainty. What will the new property manager be like? Will they raise rent? Tell us to get out? I’m not entirely sure of the legal possibilities. They might be awesome. But until we know what’s happening, I’m a wee bit wound up.
Has anyone else been through this kind of thing?
Post # 3
(Hugs!) How annoying!
I was in a similar situation in our last apartment. We went to Hawaii to get married and came home to a for sale sign on the house we lived in. It was violating to have strangers walking through our home, and stressful anticipating what would come next.
We actually ended up moving before the house was sold bc the realtor let our cat get out and he was gone for 2 days. I was a basket case and wouldn’t let anyone in to look at the house after that so we moved out.
I hope the new owner allow you to stay without changes or raising the rent. Good luck!
Post # 4
Do you have a copy of the lease? If so, you should read it – there should be a provision in there regarding what can happen in the event of a sale of the building. IF they make you vacate (not saying that will happen) they have to give your prior notice, usually 30 days.
I don’t know the laws of your city/state, but where I live, if the new LL assumes your lease, he cannot raise your rent just because. Best of luck.
Post # 5
I’m sorry! We had our (rented) townhouse forclosed on and sold by the bank. They did the home inspections and it was really weird. I was super nervous about how the new owners would be. Most of the time, depending on what state you live in, the new owners will have to honor your current lease. They don’t have to renew it though.
You should check your states tenant laws and see what it says about new owners and your rights. Smaller management companies can be the worst offenders for violating tenant rights. Just look up tenant rights in forclosure or sale in your state because it does vary.
If it makes you fee any better we have a much better company now. They are making improvements to all the townhouses, and even stopped by when they bought it to see if I had any outstanding maintenance problems they could take care of for us.
Post # 6
I’m doing some investigating before completely freaking out, and hoping that we’ll have a similar situation to you jesykah55.
Thanks for the reassurance. We’ll just have to wait and see what happens, I guess.
Post # 7
Update: So, the home inspector/agent/potential buyers came through today and they actually took an interest in hearing our issues with the place and seem eager to fix it up. It would be great if it works out…