New owner/old lease
October 6, 2009 6:38 PM Subscribe
Does my new landlord have to honor my old lease?
I live in an 8 unit building and I am 6 months into a year lease. About a week ago I had a note on my door saying my building is now owned by Such and Such Company and to please send my rent there.
Now tonight I come home to another note saying that the new company wants 2 things from all tenants. One is whether or not we have a garage. Fine no problem.
The other is....since the previous owner didn't give the new company any of the original paperwork (huh?) could we please kindly fill out the rental application by Friday. This includes basic stuff (name, employer, etc) but also signing off on their right to do background check, credit check, etc. It also has a thing you fill out for a rental reference that they would send to an old landlord. The letter does state that this info is 'simply for our records and files.'
I looked at my old lease. Its typical boilerplate generic lease....it does have one paragraph about 'Lease is Subject to Mortgage' and says that, for example, should the property be foreclosed on, the new owners rights are superior to the rights of the tenant.
So here are my questions:
Why am I filling out the rental application? Ostensibly its just so they have one on file. Thats fine and dandy if thats all it is....but is that really all it is?
The whole 'lease is subject to mortgage' thing. Does anyone know what that means in practice? Is the new owner likely to void my lease because i don't fit their idea of a perfect tenant?
Do new owners typically honor the remainder of old leases?
Any other advice? It seems like the company is just doing pretty standard stuff, the place is going from ma and pa ownership to McRental Corp...so it makes sense that the company wants everything on THEIR paperwork. But then why I am giving them permission to do a background check, credit check etc? I already have the apartment, I am not applying for one. I guess I am just asking, is this a red flag situation?