Key Things to Know When Renting a House That’s on the Market

When you’re renting a home for the first time, you need to follow the rules and regulations of your landlord to ensure a healthy landlord-tenant relationship. However, when the landlord decides to sell the rental property you’re living in, it doesn’t mean they can just kick you out from your home immediately. As a renter, you also have rights that need to be protected throughout the process.  

If you want to know how to handle things when your landlord is selling the home you’re renting, below are the tips to consider from the get-go:   

Check For A ‘Lease Termination Due To Sale’ Clause In Your Contract  

When the landlord informs you about the sale of your rental home, you shouldn’t hesitate to check for a ‘lease termination due to sale’ clause in your lease contract. By doing so, you’ll know what your rights are when the home you’re renting is up for sale.  

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In other words, if the landlord insists on kicking you out immediately because of the impending sale, use the clause in your contract as your first line of defense. Typically, a ‘lease termination due to sale’ clause gives renters like you at least one to two months of preparation to vacate. Hence, don’t forget to review your lease agreement to protect your rights against your landlord’s decision to sell your rental home.   

Ask For A 24-Hour Notice Before Showings, Inspections, And Upgrades 

One of the most frustrating parts of renting a home that’s up for sale is dealing with the inspections, showings, and some upgrades. If you’re renting a property, these processes can disrupt your peaceful life.  

Therefore, to minimize the disruptions caused by these processes, be sure to request for a 24-hour notice before the scheduled inspections, showings, and upgrades. In doing so, you won’t feel uncomfortable with the idea of many strangers coming in and out of your place of abode. However, if you think the processes involved in selling a home can cause you discomfort and stress, you might want to sit with your landlord and come up with a solution in which both parties could benefit.

For example, if you’re renting a home in Orlando, Florida, you can recommend a reliable house buying company as a buyer of the property. Unlike the traditional house sale, dealing with home buyers in Orlando is much more convenient and less stressful because you don’t have to face the hassles that go with repairs, upgrades, and showings. They’re willing to buy the property on an as-is-where-is basis, and in the fastest time possible.  

Ask For A Written Notice To Vacate 

As mentioned, your landlord can’t just evict you from the home you’re renting. The eviction and termination of the lease agreement should be done under due process to avoid serious problems in the future.  

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Thus, if you’ve been informed that your rental home will be sold anytime soon, you should always ask for a written notice to vacate, especially if you’re in a month-to-month lease contract with your landlord. Depending on the state you’re in, your landlord should provide you with 30 to 60 days notice to vacate the property. That way, you can rest, knowing you have ample time to look for another home and relocate there before the given deadline.  

Require The Return Of Your Security Deposit 

Although state laws differ as to what happens to the security deposit when you move out of your rental home due to a sale, the general rule provides that your landlord should return your security deposit within 60 days after moving out. In other words, you still have the right to collect the deposit you gave in case your rental home has already been sold.

Before you move out, talk to your landlord and discuss how they’re going to return the security deposit within the specified period. This is especially true if the property will change hands soon. Make sure you know and understand the process of collecting the deposit from the new owner when the time comes.  

Demand For A Lease Termination Payout  

If your lease agreement doesn’t contain an early termination clause that gives the landlord the right to evict you sooner than your contract stipulates, you have the option to demand a lease termination payout. This refers to a predetermined amount of money given to renters to help finance their moving out expenses.  

Thus, if your landlord wants you to leave the property sooner than you anticipated, don’t be afraid to ask for a termination payout. This will serve as compensation for the hassle and stress brought about their decision to sell your rental home before the expiration of your lease contract.  

Don’t Allow Your Landlord To Lapse On Their Landlord Duties 

Selling a property is a time-consuming process, but it doesn’t mean it’s okay for the property owner to fall short in their landlord duties. Despite the inspections, showings, and repair works they ought to deal with, they should still provide you with a livable property. This means that the place should still be in good working condition, the basic utilities are up and running, and the repairs are done in a way that doesn’t compromise your comfort.  

However, when your landlord lapses on their duties and there’s no way to resolve it, you have the option to file a case against them. In doing so, you can safeguard your rights as a tenant during the sale process.   

File A Lawsuit When You Feel Retaliation From Your Landlord 

In some cases, tenants who know that their rental homes are up for sale will look for ways to discourage potential buyers from pushing through with their purchase. For this reason, your landlord will not hesitate to retaliate in some way.  

For example, they might impose an unexpected rent increase or reduce the services you normally enjoy around the property, such as a laundry space or Wi-Fi access. Hence, if you experience retaliation or ill-treatment from your landlord, you can file a lawsuit in small claims court and recover payment of damages from them.  

Wrapping Up 

Indeed, renting a home that’s currently up for sale can be a daunting experience. There are many things you need to consider to ensure a good lessor-lessee relationship despite the sale. But, it doesn’t necessarily mean your landlord will violate your rights as a renter.

Therefore, if you want to handle this predicament without hassle, keep these tips in mind, and you can navigate the whole process in a smooth and headache-free manner.