Many landlords often decide to sell their rental properties. When a property has current tenants, the landlord must take into consideration their rights. After all, the rental agreement is a legal and binding contract made between the landlord and tenants. If ownership of a property changes, this agreement is still legally binding, given the tenant rights to remain on the property.
Some sitting tenants do not have legal agreements to live on a property. These sitting tenants have been residing on the property for a long period of time without a tenancy agreement. These tenants are still permitted to remain on the property when ownership changes. It is quite difficult to evict these tenants without incurring a great deal of legal expenses as well as taking a long time to do.
Sitting tenants are basically tenants that come along with a property if it is sold while still under contract. Even though the property has changed ownership, the sitting tenant still has the right to live there under the terms of their rental agreement. In today’s rocky housing market, many properties have succumbed to foreclosure. In these situations Many sitting tenants pay significantly lower rent levels. This can be for a number of reasons. Perhaps the rent value was established and guaranteed as long as the tenant lives on the property. In other situations, the sitting tenant may be the owner of the property or a family member. Some sitting tenants secured lower rent levels because they are experiencing financial hardships. Whatever the reason for the lower rent level, the amount cannot be changed by the new owners of the property.
Sitting tenants are also entitled to other protections. Privacy is another right afforded to sitting tenants. They are also entitled to peace and quiet. The landlord also may not make unannounced visits to the property. Also, when the landlord does make visits, it must be at a time convenient for the sitting tenant. Landlords are also required to upkeep the property on which the sitting tenant lives. Sitting tenants do have some obligations to the landlord. These include paying the rent as well as keeping the residence clean.
