What happens if your landlord wants to sell?
It’s probably not the news you want to hear as a tenant, but should your landlord choose to sell their property, it doesn’t have to be a huge inconvenience.
In fact, both tenants and landlords have specific rights and responsibilities should a landlord decide they intend to sell.
So, let’s walk through the process…
The right to sell
In all Australian states and territories, landlords have the right to decide to sell their property at any time, but they do need to work with you as the tenant to ensure it’s not too great an impost on your right to privacy and enjoyment of the property.
Your lease terms
Even if a landlord chooses to sell, the terms of your lease remain in effect. That means they cannot give you notice to leave on the grounds that they’re selling.
In fact, your tenancy agreement applies even after the property is sold, so you can rest assured the lease you signed previously still holds up.
Should you view the sale as too great an inconvenience you could also potentially negotiate with the landlord to end it by mutual consent.
A landlord might welcome this, but by no means does a prospective sale mean that you will suddenly have to leave.
That lease also stipulates things like when inspections can occur, and how often.
While the exterior of a property can be photographed without permission, when it comes to interior images, the landlord needs to work with the tenant.
If you have concerns about your personal belongings being photographed, discuss these with your property manager.
In terms of signage, permission is not required to erect a for sale side outside the property, but landlords would need to seek the tenant’s permission if they wanted to hold an on-site auction.
A landlord must provide 14 days written notice prior to the first property viewing, and 48 hours for every viewing after that.
Things tend to work more smoothly if you and the landlord can agree on prospective inspection times, but should that fail, they are allowed to hold a maximum of two viewings per week.
Meanwhile, as the tenant you have the right to be there during a viewing if you choose.
The details vary from state to state
All states and territories have laws that protect a tenant should the landlord choose to sell their property, but they do vary.
You can find a detailed insight into the different states and territories here, but in the interim it’s important to note the sale of a rental property doesn’t necessarily signal major change for the tenant.
Your lease will still be upheld even after a sale, and if the buyer happens to be an investor it may even be renewed later down the track.
How we can help
At Eview Group our experienced property managers pride themselves on establishing great relationships with both tenants and landlords. We appreciate as a renter, the property you reside in is the place you call home.
You can learn more about our current rental opportunities available by clicking here, or use the form below if you would like some further information regarding your investment.