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My Landlord's company closed down last week. Nothing has been changed with my terms as of now, but should I be worried? We are really close and we take care of each other's cats. His daughter, wife, and son all work and I think he's just hoping to wait it out until he can get another job. Has anyone ever been in this situation? He is older, but I don't think old enough to quite retire yet.
My Landlord's company closed down last week... should I be worried?
Probably... but there shouldn't be any imminent risk to you.
The question is mostly about WHY he is a landlord... how that came to be.
Too many one property LL's were forced into it and are living life financially on a knife's edge.
Probably... but there shouldn't be any imminent risk to you.
The question is mostly about WHY he is a landlord... how that came to be.
Too many one property LL's were forced into it and are living life financially on a knife's edge.
I don't really know his financial situation, but I am pretty sure he's been living here for at least a decade if not longer. They aren't rich, and I am sure if he doesn't find a job soon like in six months things will start to happen financially. Though, I think he is fine for now. He seems to be enjoying the break.
I don't really know his financial situation, but I am pretty sure he's been living here for at least a decade if not longer. They aren't rich, and I am sure if he doesn't find a job soon like in six months things will start to happen financially. Though, I think he is fine for now. He seems to be enjoying the break.
Dont assume anything about their finances. They could be fine or walking a tightrope. Either way your lease protects you for its duration. After that he may sell or raise your rent. Or he may do nothing. He may find a job. He may not need one
I "lost" my job before and my tenants knew nothing about it. In fact I wouldn't dream of discussing my finances or job loss with my tenants.
Or in other words, OP does not have any dog in this fight.
Pay your rent. Let landlord worry about his job.
Worst case is he'll have to sell his premises, and if you have a lease the new owner will have to honor your existing lease. Worser case if you are month-to-month.
Is he your landlord, as is he owns your unit; or is he the super/manager that manages your unit? Your post isn't too clear...either way, it's not really your concern and nothing you can do about it. your lease will remain the same until it expires.
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