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What are my rights if my landlord wants to sell the rental property?

What are my rights if my landlord wants to sell the rental property?

Q: What type of lease is a one year lease?

A one-year lease is typically a fixed-term lease, meaning it has a specific start and end date. During this period, both the tenant and landlord are bound by the terms of the lease. This type of lease provides stability for tenants and landlords, as the rental rate and conditions are set for the entire year.

Q: What is a 1 year lease term?

A one-year lease term is a rental agreement that lasts for 12 months. It specifies the rental amount, payment terms, and other conditions that both the tenant and landlord must follow during this period. At the end of the term, the lease may be renewed, or the tenant may choose to vacate, depending on the agreement.

Q: What is a base year lease called?

A base year lease is often referred to as a 'gross lease' or 'full-service lease.' In this arrangement, the landlord covers operating expenses for the property, and the tenant pays a fixed rent. Any increases in costs after the base year may be passed on to the tenant. This type of lease is common in commercial real estate.

Full question:

I have a rental lease for one year. 4 1/2 months into the lease the property manager says the owner wants to sell the house and they would be putting a lock box on the door and showing it 4 days later. When I moved in, there was no mention of them contemplating selling the house. What are my rights? I did tell them I wanted to be let out of the lease because I did not know when the house would sell or if it would be 2, 4, 6 months of living with real estate agents in and out of the house. They agreed. Now they want to do an Open House on a day I spend studying (I am a Pastor) for the next day. The Open House is from 1-4 pm , but it will be about six hours out of the house. Can I refuse them and ask them to wait till I leave 8 days later. The property managers sent a very threatening email to me saying I could loose some of my deposit if I caused problems along with other things. Can they do that? I conceded but told them I would be in the house during the Open House.

Category: Landlord Tenant
Subcategory: Security Deposit
Date: 04/07/2025
State: Idaho

Answer:

Generally, when a landlord decides to sell the rental property, the lease obligations remain in effect. The lease usually specifies when the landlord has the right to enter the property. If the lease does not specify this, the landlord typically must provide reasonable notice but does not require the tenant to vacate unless there are safety concerns due to repairs.

Since the landlord is not obligated to let you out of your lease early, they may apply your security deposit to any rent due under the lease terms.

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

Can I break my lease if my landlord is selling?

Generally, you cannot break your lease just because your landlord is selling the property. Your lease remains in effect until its expiration unless both you and your landlord agree to terminate it. If you wish to leave early, you may need to negotiate with your landlord. It's important to review your lease for any specific clauses about early termination. If you have concerns, consider seeking legal advice.

What type of lease is a one year lease?

What happens when a leased property is sold?

When a leased property is sold, the new owner typically inherits the existing lease agreements. Tenants usually remain in their rental units under the same terms until the lease expires. The new landlord must honor the lease, including the rental amount and duration. However, tenants should be informed of any changes in property management.

What are red flags in a lease agreement?

Red flags in a lease agreement may include unclear terms, excessive fees, or clauses that seem unfair, such as allowing the landlord to enter without notice. Other concerns might be a lack of information about maintenance responsibilities or vague language regarding security deposits. Always read the lease carefully and consider consulting a legal professional if anything seems suspicious.