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Anonymous
Anonymous asked in Business & FinanceRenting & Real Estate · 1 month ago

The house I'm renting was sold, and I still have 7 months on my lease.  The new owner wants me to move out, what would be fair to ask for?

I know that I should ask him to buy out my lease and basically make it worth my trouble to move.  It would probably take me a solid week to pack and move, plus the extra expenses, down payments, deposits, truck rental, time to find a suitable place etc.  Would $10,000 be too much to request to move out 7 months early?

Update:

It would definitely not be worth it for $700-800.  No way.  I'd have to take multiple days off work.  Moving is a major hassle, not just a simple thing. 

18 Answers

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  • 1 month ago

    I have seen $1500 to $2000 in the past.  But you will NOT get $10,000, nor will you get more than 30 days.  Do not think for one minute you have leverage, no one cares about the "contract" it's over, go find a new place fast, or else you will move very fast when you ARE thrown out by the Cops.  This is not a game, and you are done.

  • 1 month ago

    He is not required to buy out your lease and you are not required to move out.  A change in ownership has nothing to do with the lease contract.  Did you not understand that?

  • 1 month ago

    First off figure out what you are willing to take but don't tell him, or anyone for that matter.

    Next I'd ask him to make me an offer, using the "first one to make an offer loses" rule in negoitiating. If his offer is ridiculously low, or he won't even make one, then he isn't serious and I'd just say forget it, you are staying. If the offer is above what you'd take then I'd hem and haw and maybe even ask for a bit more (on principal) but then take it. If the offer is close, then I'd come back with an offer above what you are willing to take but then negoitiate down to your number if you can and if not then just say no, you are staying.

    If he makes you a really low offer you can lease the door open for him to make a better offer, but dont let him make multiple offers or he'll just make offers going up $100 each time until he finds your lowest acceptable price.

  • ?
    Lv 6
    1 month ago

    2 months , thats all he has to give , after all he bought the house not the lease . my niece was renting till the house was sold and given 6 weeks by the new owner . after all you no longer lease do you , take it out with the person who signed the lease , not the new owner , he has noting to do with the lease .

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  • R P
    Lv 7
    1 month ago

    If your lease contains an early termination clause, either you or your soon-to-be-new landlord can  opt to for it. The fee to terminate is spelled out, and that would all you are entitled to.

    If there is no early termination clause, you can check your state's landlord/tenant laws to see if there is a cap on ELT fees. For example, Florida limits the ELT to a fee equivalent to 2 months' rent.

    If your state does not cap the ELT fees, you can ask for however much you think is fair. Your landlord is free to say "no."

    If he turns down your request and opts to let you stay, you should be saving your money with which to move because you know that he is not going to renew your lease.

    Source(s): FL landlord
  • 1 month ago

    You will struggle trying to get $10K.  It's going to have to come out of either the Landlord's profit from the sale, or be added to the buyer's costs--and neither one of them is going to let you have that much. 

    Two months rent, plus your deposits, is reasonable. Not more than that. 

  • 1 month ago

    What's the lease break clause say in your lease? It goes both ways.

    If there isn't one, ask for two months rent plus full deposit back, assuming you didn't trash the place. 

    Ten grand is way too much.

  • 1 month ago

    You will never get $10K.  That's kind of ridiculous.  Ask for the cost of 3 months rent (first, last, deposit) at the new place plus moving costs.

  • 1 month ago

    How much is the truck rental?  $40?

    Even if you have to miss work for a week, how much do you get paid in a week?  $200?  $1000?

    I don't see how you think $10,000 is reasonable.  For that much money, you could pay someone else to pack your stuff so you don't need the week.

  • Anonymous
    1 month ago

    You are NOT entitled to anything.  That's extortion.  What you may be entitled to is to finish your lease, but that would depend on the laws where you live.  In most places, you should have been out by the closing date, because once he purchases the house, it is his, and if you are not out, he can evict you.  So, either face eviction or be an entitled b*tch about it and make him evict you, or consult a lawyer who can tell you whether you have no rights or the right to finish your lease.  If you have that right and he wants you out earlier, then don't be greedy, just ask for one month to cancel the lease.

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