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Old 11-28-2010, 05:00 PM
 
362 posts, read 702,520 times
Reputation: 160

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So apparently, my rental unit has been foreclosed, and I now have a new landlord... I use that term loosely, as the situation seems to be in a bit of flux, but apparently this new (even if interim) owner desires to maintain the building's tenants.

Just wondering if anyone else has gone through this process.

The new owner has communicated that they would like to stop by soon to transfer our rental agreements to their form. I've already begun doing homework, and I believe this is not required, as per the Protecting Tenants Rights at Foreclosure Act of 2009 -- my current lease should be executable to its conclusion.

Just want to make sure the new owner doesn't try to pull any shenanigans. For instance, my current lease is month to month, and if they imply that I must transfer to their agreement on a yearly basis, I will call their bluff.

So again, if anyone has undergone a similar event, please feel free to provide any information you might think will come in handy.

Thx in advance.
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Old 11-28-2010, 05:04 PM
 
11,715 posts, read 35,875,875 times
Reputation: 7510
If you're month to month, they can kick you out by New Years if you don't like the new terms.
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Old 11-28-2010, 05:11 PM
 
362 posts, read 702,520 times
Reputation: 160
Quote:
Originally Posted by EscapeCalifornia View Post
If you're month to month, they can kick you out by New Years if you don't like the new terms.
Per the Protecting Tenants Rights at Foreclosure Act of 2009, I am entitled to 90 days notice minimum...
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Old 11-28-2010, 06:13 PM
 
Location: Los Angeles
5,548 posts, read 7,468,893 times
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You have a ninety day window in which you can either move, or the new owner can adopt a new rental agreement, which would take effect after the ninety day period ends.
He, or she must however give you a written notice of intent on the part of the owner to change whatever they want too regarding the terms of the rental agreement.
That notice as stated in the act must be given 90 days prior to it's effective date.
So, the short of it is, you have ninety days, from the date on the notice, to consider what you are going to do.
Bob.
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Old 11-29-2010, 09:05 AM
 
1,465 posts, read 4,543,384 times
Reputation: 852
Quote:
Originally Posted by Troof View Post
So apparently, my rental unit has been foreclosed, and I now have a new landlord... I use that term loosely, as the situation seems to be in a bit of flux, but apparently this new (even if interim) owner desires to maintain the building's tenants.

Just wondering if anyone else has gone through this process.

The new owner has communicated that they would like to stop by soon to transfer our rental agreements to their form. I've already begun doing homework, and I believe this is not required, as per the Protecting Tenants Rights at Foreclosure Act of 2009 -- my current lease should be executable to its conclusion.

Just want to make sure the new owner doesn't try to pull any shenanigans. For instance, my current lease is month to month, and if they imply that I must transfer to their agreement on a yearly basis, I will call their bluff.

So again, if anyone has undergone a similar event, please feel free to provide any information you might think will come in handy.

Thx in advance.
Are you intent on a fight before you even looked at the new lease? What do you mean 'call his bluff'? If they present a new lease and you refuse to sign it, that is certainly your right but I wouldn't be surprised if it was immediately followed by a 90 day notice. I was in a purchase agreement for a multi-unit and one of the things I wanted to do was change all the old leases. It wasn't that I wanted to pull any 'shenanigans', I just wanted the forms that are current with my state's tenant laws. If a tenant wouldn't sign without a valid reason, it would be a red flag for me and you get the 90 day notice.

My suggestion, see what they say. If they want you in a one year lease tell them you would prefer month to month. Maybe they will keep you month to month but using their form. I don't see anything wrong with that. If you do, you will likely be moving.
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Old 11-29-2010, 09:40 AM
 
362 posts, read 702,520 times
Reputation: 160
Quote:
Originally Posted by DowntownVentura View Post
Are you intent on a fight before you even looked at the new lease? What do you mean 'call his bluff'? If they present a new lease and you refuse to sign it, that is certainly your right but I wouldn't be surprised if it was immediately followed by a 90 day notice. I was in a purchase agreement for a multi-unit and one of the things I wanted to do was change all the old leases. It wasn't that I wanted to pull any 'shenanigans', I just wanted the forms that are current with my state's tenant laws. If a tenant wouldn't sign without a valid reason, it would be a red flag for me and you get the 90 day notice.

My suggestion, see what they say. If they want you in a one year lease tell them you would prefer month to month. Maybe they will keep you month to month but using their form. I don't see anything wrong with that. If you do, you will likely be moving.
No. Though I'm sure my post does come across as stand-offish; not my intent at all...

I just like to have all my facts in order ahead of any meeting, in case any misinformation is presented as fact, as I've experienced on occasion with a past landlord. Nothing wrong with brushing up on your rights ahead of a new meeting...

In any case, I've brushed up on the applicable laws, codes, etc associated with this transition, and the tenant is very well protected in such a situation, especially in light of the new laws signed into effect in the past couple of years.

(Will post the applicable information in this thread when time permits, as it may serve helpful to a future reader.)
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