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Old 08-19-2008, 07:17 PM
 
1 posts, read 3,232 times
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My Fiance and I are living in a non-rent controlled duplex in Silver Lake and our building is on the market. The building was torn down and rebuilt in the 90's making it exempt from rent control. We love the place but aren't sure what is going to happen with a new owner. The lease is long over and we've been month to month for about 2 years. Can a new landlord just gives us a 30-day notice and be done with us? Would they have to pay a relocation fee? could they raise the rent to whatever they desire? What right's do we have?

Any help with these questions or anything I'm forgetting would be awesome!
Thank you in advance!
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Old 08-19-2008, 08:04 PM
 
2,516 posts, read 7,549,787 times
Reputation: 2394
yes, the new owner can give you notice to vacate and be done with you if they have other plans for the property, or simply don't want you there. in most circumstances, you are entitled to 60 days' notice.

no, you are not entitled to relocation fees, unless the building is going condo.

yes, they can raise the rent as high as they like. you are entitled to a 60-day notice if the increase exceeds 10%.

the new owner has the right to request that you sign a new term lease. if he does not, the terms of your original lease (plus addenda, if applicable) govern your continued tenancy.
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Old 08-19-2008, 08:13 PM
 
Location: Hot Springs, AR
5,612 posts, read 13,240,020 times
Reputation: 3740
You should ask the current owner if s/he plans to have of your current agreement being "grandfathered". But beware your current owner may tell you what s/he needs to because having a full building with long term tenant can be very attractive so s/he will be motivated to lie to keep you there. You really need to consult an attorney. Legal Aid or the Free Clinic can answer this basic question. Even a realtor can be of assistance. Good Luck.
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