Can My Landlord Sell the House I’m Renting? Know Your Tenant Rights

Many of our current clients have dealt with or are dealing with this situation. Oxford investment real estate is HOT right now and many long-time investors are choosing to sell their rental properties. Let’s talk about your tenant rights when this happens.

Landlords own the property you may be renting and they can choose to sell their property whenever they want. This makes it tricky for you, the renter. Can you continue renting from the new owner? Local Oxford attorney, Nicholas Brown, says, “Generally, yes you can, however, there are some leases that are more favorable towards a landlord. Always read your full lease agreement BEFORE you sign.” A lease might include a clause regarding the landlord selling and the current tenant needing to vacate when the rental property sells.

Don’t forget about the security deposit that you gave your landlord! Your landlord is legally required to return your security deposit, minus any needed repairs or cleaning, after you vacate the property. Make sure you leave the property the way you found it before moving in (remove all of your property, clean it, return the keys, conduct a walk-through with your landlord, if possible, and give written notice with your forwarding address. Always leave on a good note!

If you find yourself wondering if your rights as a renter have been violated, contact the Ole Miss Housing Clinic. Read the full realtor.com article here.