Evening everyone,
I have some rental agreement related questions I would like to seek your opinions for..
Long story short we have signed a rental agreement (all required paperwork) with the owner directly and there's no agency involved.
If the owner sells his place and the new owner takes over, are we protected by the signed documents even though we didn't go through an agent? For example if they wish to increase the rent or ask us to move out before the agreed date ?
Cheers!
What does your tenancy agreement state? If it's not in there then they can't enforce it. Having or not having an agent is not relevant to the agreement, an agent just works in behalf of the landlord. If your current landlord doesn't terminate your agreement then the new buyer must accept the term of agreement as the new owner and cannot raise the rent in a fixed term agreement. Google is your friend.
You are protected if it is the default residency contract and everything was done legit.
Though, if he sells it and the new owners want to move in, it may be worth making a deal to get a bit of cash for yourself.
Yes you're safe provided you're still under the rental contract period. If you're on a month to month contract and the current owner decides to sell they only need to give you 30 days notice after premises is sold as opposed to the standard 90 days notice outside contract.
Below notice periods for Landlords.
The minimum period of notice you can give the tenant to vacate is:
14 days – if the tenant is 14 days or more behind with the rent or has committed some other breach of the tenancy agreement
30 days – if the fixed term of the agreement is due to end
30 days – if the premises have been sold after the fixed term has ended and vacant possession is required by the buyer under the terms of the sale contract
90 days – if the fixed term period has expired and no new agreement has been signed.
NSW Rental agreements are 'standard' - should be the same whether you signed with the agent or landlord directly. Does your agreement look like this?
If all goes to plan, yes, but like agents, you can get d*ck landlords who don't obey the law and do what they feel like.