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Lease Renewal During a Short Sale

By RenterQuestion

We signed a lease for one year on 3/1/12.  It is set to expire on 2/28/13.  Back in November of 2012, we were told by the property management company that the house was in a short sale and that we most likely would have to move at the end of our lease.  This was told to us verbally, not in writing.  There were several back and forths over the months with the option to possibly stay with the new owner and then maybe not. Long story short, the potential new owner agreed to a new lease which we signed, but then the property management called us and says the current owner is refusing to sign the lease and that we will need to vacate on 2/28 at the end of our lease.  My question is, is this legal? Don’t we need to be told in writing that the lease will not be renewed? What are our rights?

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Holy Cow, we couldn't find any other related post. Sorry. :(

YARPP

Edited on: Wednesday, January 30th, 2013 10:38 am
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One Response to “Lease Renewal During a Short Sale”

My response: (We welcome stories, examples, explanations, answers and a touch of your personality)
 

Dan

January 30th, 2013 7:18 pm

Where was the owner when you signed the lease? Didn’t he sign his part too? At this point, it would be best if you can talk to the owner directly in order to clear things out. Your property management is not being fair to you and they should provide you with written notices. Written notices can be used as legal proofs because verbal agreements are never reliable. If the property management continues to call you, saying that you will have to move at the end of your lease, but they still do not send out written notices, then the next logical step to do would be to file a complaint with the RPA.

Lease Renewal During a Short Sale

By RenterQuestion

We signed a lease for one year on 3/1/12.  It is set to expire on 2/28/13.  Back in November of 2012, we were told by the property management company that the house was in a short sale and that we most likely would have to move at the end of our lease.  This was told to us verbally, not in writing.  There were several back and forths over the months with the option to possibly stay with the new owner and then maybe not. Long story short, the potential new owner agreed to a new lease which we signed, but then the property management called us and says the current owner is refusing to sign the lease and that we will need to vacate on 2/28 at the end of our lease.  My question is, is this legal? Don’t we need to be told in writing that the lease will not be renewed? What are our rights?

Pin It
Email
Print

Related posts:

Holy Cow, we couldn't find any other related post. Sorry. :(

YARPP

Edited on: Wednesday, January 30th, 2013 10:38 am
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