to protect yourselves, I would urge you to get a new contract drawn up naming the new LL.
It could be written so as to only take you to the end of the current lease, but then it formalises all the changing hands. The deposit is your money, so when your LL terminates his contract with you (either by it being the end of the contract or active termination, even due to sale of the property) then he should return your deposit [i'>to you[/i'>, not to anyone else.
Without having a tenancy contract with the new LL named, if anything were to go wrong, you would have left yourselves open to very little recourse. If the new LL has any sense, he'd be asking for the same.
that's what I thought - presumably the old ll should return deposit to his tenants and the new one do a new contract with a new deposit......
exactly. Clear and simple so that everyone knows where they stand and everything is above board. The current LL should also return any rent that he hasn't actually earned, along with any uncashed rent cheques and a new set should be written out to the new LL... none of this "oh, we've come to an agreement" business.
The last thing the tenant wants is to face eviction or have to pay double rent because the former LL has cashed the cheques but not handed the cash over to the new LL, who actually could evict them anyway because there's no tenancy contract between them...
Excellent point - thanks!
to protect yourselves, I would urge you to get a new contract drawn up naming the new LL.
It could be written so as to only take you to the end of the current lease, but then it formalises all the changing hands. The deposit is your money, so when your LL terminates his contract with you (either by it being the end of the contract or active termination, even due to sale of the property) then he should return your deposit [i'>to you[/i'>, not to anyone else.
Without having a tenancy contract with the new LL named, if anything were to go wrong, you would have left yourselves open to very little recourse. If the new LL has any sense, he'd be asking for the same.
that's what I thought - presumably the old ll should return deposit to his tenants and the new one do a new contract with a new deposit......
exactly. Clear and simple so that everyone knows where they stand and everything is above board. The current LL should also return any rent that he hasn't actually earned, along with any uncashed rent cheques and a new set should be written out to the new LL... none of this "oh, we've come to an agreement" business.
The last thing the tenant wants is to face eviction or have to pay double rent because the former LL has cashed the cheques but not handed the cash over to the new LL, who actually could evict them anyway because there's no tenancy contract between them...
to protect yourselves, I would urge you to get a new contract drawn up naming the new LL.
It could be written so as to only take you to the end of the current lease, but then it formalises all the changing hands. The deposit is your money, so when your LL terminates his contract with you (either by it being the end of the contract or active termination, even due to sale of the property) then he should return your deposit [i'>to you[/i'>, not to anyone else.
Without having a tenancy contract with the new LL named, if anything were to go wrong, you would have left yourselves open to very little recourse. If the new LL has any sense, he'd be asking for the same.
that's what I thought - presumably the old ll should return deposit to his tenants and the new one do a new contract with a new deposit......
to protect yourselves, I would urge you to get a new contract drawn up naming the new LL.
It could be written so as to only take you to the end of the current lease, but then it formalises all the changing hands. The deposit is your money, so when your LL terminates his contract with you (either by it being the end of the contract or active termination, even due to sale of the property) then he should return your deposit [i'>to you[/i'>, not to anyone else.
Without having a tenancy contract with the new LL named, if anything were to go wrong, you would have left yourselves open to very little recourse. If the new LL has any sense, he'd be asking for the same.
But if the new landlord claims that he did not receive the deposit from the old LL, then can he refuse to pay it back. Isn't this an easy detail to miss in a sales contract?
to me he cant refuse because they are not going to say here is the 5k deposit its surely all included in the sale price etc.
But if the new landlord claims that he did not receive the deposit from the old LL, then can he refuse to pay it back. Isn't this an easy detail to miss in a sales contract?
i would say that surely when the documents are noted the lease will be included and it should say on your contract that you paid x amount as deposit etc.
But if the new landlord claims that he did not receive the deposit from the old LL, then can he refuse to pay it back. Isn't this an easy detail to miss in a sales contract?
As there are some property people on here I have a question that I have no clue what the answer is. Your landlord contacts you to let you know that he has sold his property. At the end of your tenancy period who gives you back your deposit?...is this taken into account in the sale documents? Do you need to meet the new landlord to re-sign a lease with him as he is the new owner. Has anyone done this? I had no clue how to answer this one!
this happened to us, owner changed hands part way through contract, it just goes over to the new landlord
As there are some property people on here I have a question that I have no clue what the answer is. Your landlord contacts you to let you know that he has sold his property. At the end of your tenancy period who gives you back your deposit?...is this taken into account in the sale documents? Do you need to meet the new landlord to re-sign a lease with him as he is the new owner. Has anyone done this? I had no clue how to answer this one!