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legaleagle01 · Oct 23, 2009, 03:53 PM

My landlord is putting the house up for sale and we still have a lease that expires June 2010. He has not mentioned anything about buying us out of our lease. Another Real Estate Agent told me about this. So my question is how much can I ask for this buy out of the lease. I pay $2750.00 month rent.I want my full deposit back as well and it is $2950. I found another place to rent and I just want him to transfer the deposit to her. She is asking $3000 deposit. I also would like landlord to pay for expenses to move and to pay my first month rent at new place in the amount of $2450.00. Can I get him to do this. How much can I ask him for. He wants a $$$ figure of my moving expenses. Please help me negotiate this Buy Out of my lease. I want to be smart about this. My landlord was not even going to mention any of this to me. I want to be smart about this. I also don't want to lose this new place I found to rent. What should I do? Thanks

stevetcg · Oct 23, 2009, 04:17 PM

The landlord does not have to pay anything. Your lease transfers to the new owner.

LILL · Oct 24, 2009, 08:45 AM

I think your jumping the gun here.

What makes you think the landlord wants you to move?

The landlord has no obligation to "buy you out". He can just hold you to the full term of the lease or until the sale takes place. Once the sale does take place, the new owner would have to honor your lease.

I suggest you talk to your landlord before you start looking for another place. Moving now... without your current landlord permission... would be a breach of lease on your part.

twinkiedooter · Oct 24, 2009, 04:29 PM

Your landlord does not have to legally buy you out of your lease. Whoever told you is incorrect or is under the assumption that the landlord wants you to move just because he's put his place up for sale. Makes no sense to me that he would even want to buy you out at this stage of the game.

Usually rental properties are sold every day with tenants still occupying the premises on leases. It's only if the new owner wants to occupy the premises does anything near what you suggest happen.

ScottGem · Oct 24, 2009, 07:55 PM

I totally agree with the other poster's. The landlord is under NO obligation to buy you out. However, if he asked about your moving expenses, you can get estimates from movers.

A normal buyout is 2 months rent. You would also get your deposit back after you move out.

The landlord may want you to move to make the house more saleable. He can also wait until he goes to contract which would give you enough time to move before closing.

But, as we said, he's under no compulsion to buy you out.

Fr_Chuck · Oct 24, 2009, 08:35 PM

I will agree with all of the above. There is no need for them to buy you out, when the house sells, your deposit is moved to the new owner and they have to honor the lease.

Only if the house sells to a buyer who wants to move in, will they need to buy you out.

ballengerb1 · Oct 25, 2009, 07:51 PM

I have not seen this in a long time but every one of the previous 6 posts is right on the money, all correct info. You sauy you want to be smart so don't be the first person to bring this topic up. If you talk to your LL about the new place you have lost all possible leverage to negotiate with so let him approach you. He might not.