Should I find another place?

[Jkgourmet]

Originally Posted by Coca Cola

So the odds of the new owner using this property for him or others to live there, or him renting this place out is 50/50? Would this be a fair assessment?

No. Unless you have a crystal ball, you have no idea which way the new owner will go with the property. But there is one thing that you can assume with 99% assurance: That the new owner will want the property for himself or herself will raise your rent to near-market rates.

[oregonwoodsmoke]

Originally Posted by Coca Cola

........ then tell me that he simply doesn't know?

Most likely because he doesn't know. He doesn't know who is buying it and it is none of his business what the new owner does with it.

Maybe the new owner will leave everyone in place. Maybe the new owner will clear out the house and leave you in the guest house for income. Maybe the new owner will have you move out, leave everyone else for income, and live in the guest house himself. Maybe the new owner will tear everything down and build a brand new house.

No one knows what is going to happen. If that stresses you out, start looking for another place so that you don't have to find a new place on short notice. It sounds to me like the current owner might be willing to let you leave without penalty if you find some place else to rent. Based upon his suggestion that you start looking.