What happens when your landlord decides to sell?
When the owner of your rental property decides to sell, communication between you and you property manager becomes paramount.
The first and most important piece of advice is don’t panic.
The sale of a landlord’s investment property doesn’t necessarily mean you will have to move.
In fact, well-presented properties with a tenant and lease in place are usually more appealing to investors than homebuyers, so the chances are high that a new investor will buy the property and nothing will change from your perspective.
The first and most important thing is to cooperate with your property manager about access arrangements concerning inspections and photography.
Next, you might even like to talk to your property manager about advice on how you could buy the property. Many landlords jump at the opportunity to discuss a sale to a tenant.
Signing a new lease also improves investor appeal so you can ask about that too.