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So found out my landlord is selling our place and since we reached the end of the lease in informed us 3 days before it would go month-to-month that he's putting the house up for sale this week and we will effectively have to find another place to live in the next 4-6 weeks.
We've been renters there for 3 years and overall its been a good experience. We are leaving the house in far better condition and cleanliness than we got it.
We have been causually looking to buy a house ourselves, but were holding out to find something that met our criteria. Now suddenly we have to find another place to live in 4-6 weeks and thats kind of distracting us from the house search. Trying to plan for a sudden, unexpected move, to an uncertain place.
I'm struggling with what to do next. We really want to buy something, but we are trying to make a good decision for the next place to live for the next 20-30 years. Instead, now I've got to find a place to live for the next 2-?? months. Now being effectively forced to sign a 12 month lease, yet me still may buy something this year, and I've got to frickin' move out now.
So I don't know, do we sign a 12 month lease somewhere any maybe break it later on. Or do I try to find a sublet of shorter lease, but those are farther and few between, especially when I've got to find a new place in the next ~2 weeks or so.
Maybe try to find a month-to-month lease and explain your situation to the landlord.Or if you must sign a shorter lease, negotiate an 'early lease termination fee' that is equal to 2 months rent(or try for 1 months rent or 1.5). Get the lease modified to say that tenant can end lease early with 30 day notice if the tenant pays 'early lease termination fee' on or before the day you move out. If you utilized this then tenant owes no future rent and landlord can rerent the unit as soon as you move out and can still keep your termination fee(they can double dip). Google for exact wording for the lease.
You can see monthly, weekly and daily rentals on airbnb and vrbo . com. This are fully furnished and all utilities paid. You could hire movers to move most of your belongings to a storage facility.
Also check hotels that have suites. These have full kitchens with regular size fridge. Check a few for long term rate. Call them and explain your situation. The prices can get much better when you stay longer.
Last edited by sware2cod; 05-02-2016 at 02:25 PM..
IF your lease has not ended LL needs to give you a Written notice 30-60 days before it ends hes Not renewing. IF its Ended then it 30 day written notice. He cant just Ask you to move in 2 weeks.
Have you asked the landlord if you can stay for an extra month if you keep the place spotless and agree to cooperate with showing it?
You've got 4-6 weeks to find another place to rent. That's plenty of time. It's even plenty of time to find a place to buy, if you put your mind to it.
If you do decide to buy, you might have to put your stuff into storage for a couple of weeks and stay in the long term motel while you close escrow. If you are going to buy, it would be more comfortable to make one big move instead of moving into a rental and then moving again to your new house.
^I think the OP's point is that although they could find a home to buy in that time, it will also take 4-6 weeks to close on their new home.
As far as your current situation, if the landlord has not given you notice yet, you will have at least until the end of June to move, as your landlord has missed the boat to give you 30 days notice for the end of this month. If the landlord has not put the house on the market yet, they will need to do so, find a buyer, and close on the house before it would pass to a new house, which will also take at least a month or two. Are you in a hot market where the house will go fast? If so, maybe you can negotiate with the landlord to give you another month or maybe 2 months to get a house under contract before listing the house, so that the timelines work out well.
Otherwise, I suggest that you either look for a month to month rental, or short term rental, or find a one year lease that allows sublets, so you could find a new renter to take your place when you are ready to sell.
I do not want the house. Many, many issues that are tolerable as a renter that would eventually require big $$$ to upgrade and fix. Trust me, after living here 3 years I know all of the issues and quirks of the house. Plus, do want want to raise kids in this area. Its a very transient neighborhood, mostly renters, and zero children.
I think we are going to downsize, right a cheap townhouse on a 12 month lease, and explore the break-lease or sublet options. Realistically we will still need a rental for 3-6 months, but I do not want to feel pressured to buy something we don't really want.
Several have been in the same situation... I moved several times before I had a place that met most of what I wanted.
My first home was scheduled to for a condemnation hearing... it was what I could afford... still have it today as a rental and one of the smartest financial moves for me buying at age 22... even if it was a dump.
I think we are going to downsize, right a cheap townhouse on a 12 month lease, and explore the break-lease or sublet options. Realistically we will still need a rental for 3-6 months, but I do not want to feel pressured to buy something we don't really want.
Before you sign the lease, you could always make a lowball offer on something to buy(if you can find something that is good enough for now and if you can get it for a good price that would make you buy immediately. A situation where you would buy the place if it was a great deal but otherwise you'll rent. This way if you get it for such an great price, you would be more likely sell it easier later on when you find something else and not be under water. And because you live there, the profit would be tax free to the IRS.
Beware of sublet situations. Stick to getting a clause in the contract that covers 'early termination' that lets you off the hook early if you pay a set fee.
Check your state law to see if landlord has a duty to 'mitigate damages' for broken leases. This would apply if you don't have an early termination clause, or if you didn't pay the fee (if such clause exists in the lease). Mitigate damages means landlord has to attempt to rerent when lease is broken and then you only owe rent until new renter moves in. Some states require this and others don't. If you tell your state, someone will be able to specify the rule.
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