So your landlord is selling your rental home. It’s a common enough situation, but obviously this presents challenges for both the landlord and the tenant. Of course, check with your agent and have a talk to them but below are some basic rules you should know about:
The landlord is within their rights to put their property on the market at any time
The landlord owns the property and many owners are investors waiting for the right time to sell. As the owner, they have the right to put their property on the market whenever they choose.
The landlord/agent must give 24 hours’ notice before an inspection
Most landlords/agents and tenants are able to amicably reach an arrangement for open for inspections that suits both parties, but if there are any issues it’s important to know where you stand.
Landlords/agents must give you 24 hours’ notice prior to any inspections and they must also schedule the inspection between the hours of 8am and 6pm, unless they’ve made other arrangements that are agreeable with you. The landlord/agent may also wish for photographs to be taken of the property.
Your tenancy agreement remains valid once the property changes hands
Once the property is sold, it doesn’t mean that you need to pack up your things and vacate immediately. As long as your current lease is still valid, when a new owner takes on a property, they take on the existing tenancy agreement with it. If they no longer wish to rent the property to you, they have to issue you with the standard 60 days to vacate notice so you’ll at least have a little bit of time before you have to start looking for somewhere else to live.
A quick sell
The sooner your landlord sells, the sooner you know where you stand with your living arrangements, so it’s in everyone’s best interest for the property to be sold quickly and painlessly. Please consider this general advice and contact your agent for any information specific to your lease and agreement.