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People also ask
Is it legal for a landlord to sell your house?
In all states and territories, landlords are legally allowed to sell their property whenever they like. But fear not: the law protects tenants from being turfed out on a whim. It the news no tenant wants to hear: the landlord is selling. Picture: Kate Griffin 2. Your lease is still valid
What happens to my rent if my landlord sells the property?
You檙e obligated to pay rent to your current landlord until the property is sold. After that, there are two scenarios that you can face as a tenant. In case the new homeowner decides to continue renting out this property, you檒l just have to continue paying rent to your new landlord under the same agreement.
How to sell a rental property to a tenant?
Meeting in person is best, so ask your tenant to meet you for a cup of coffee. Make sure to allow enough time to address all of their questions. When selling rental property, it best to be straightforward and open with your tenant. If your tenant really loves where they live, they might be interested in buying the home.
Should I Sell my rental property before or after my lease expires?
When you decide it time to sell your rental property, there are two main courses of action you can take as a landlord: Waiting for the lease to expire before selling, or selling while your tenants are still living in the home. There are benefits and drawbacks to both options.