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Can a homeowner rent out his property while it is up for sale?

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Can a homeowner rent out his property while it is up for sale?

Last updated: December 24 2018
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  • Can a homeowner rent out his property while it is up for sale?

    I rented a flat one and a half months back and signed an 11 month agreement for the same. In less than two months, I got a call from a random person who wanted to show the flat to someone. I did not understand what was going on so I reached out to my owner. I was told that the flat is being sold and I will have to accommodate accordingly. I asked what would happen to my brokerage amount that I 'just' paid and why was I never informed about this earlier (I had specifically asked this question at the time of contracting). My owner did not feel the need to reply and just sent me a text message saying that I've been given a one month notice to move out.

    I feel cheated and harassed since I'm being forced to do things as per the owner and I've lost a lot of money because of this. Can a owner legally do this? Can I get my brokerage back?
    Last edited December 24 2018, 04:31 PM.
  • #2

    #2

    Re : Can a homeowner rent out his property while it is up for sale?

    Yes, he can do it, unless there was a lock-in period agreed in the contract. You can try to talk to broker to find another flat in same building at reduced brokerage. Or talk to the new owner, in-case he isn't looking to shift right away and wants to give it on rent.
    Last edited December 24 2018, 04:28 PM.

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    • #3

      #3

      Re : Can a homeowner rent out his property while it is up for sale?

      Originally posted by Violet View Post
      I rented a flat one and a half months back and signed an 11 month agreement for the same. In less than two months, I got a call from a random person who wanted to show the flat to someone. I did not understand what was going on so I reached out to my owner. I was told that the flat is being sold and I will have to accommodate accordingly. I asked what would happen to my brokerage amount that I 'just' paid and why was I never informed about this earlier (I had specifically asked this question at the time of contracting). My owner did not feel the need to reply and just sent me a text message saying that I've been given a one month notice to move out.

      I feel cheated and harassed since I'm being forced to do things as per the owner and I've lost a lot of money because of this. Can a owner legally do this? Can I get my brokerage back?
      Like amancrapbox explained, owners tend to do that often as they cant let go of the thought of earning even when the flat is up for sale. They can do that unless of course there is a clause in the agreement that prohibits them from doing so. Talking about your brokerage, you will have to discuss it with your owner and the broker to minimise the loss incurred owing to lack of information. Still, it is all mutual and they may or may not agree to understand. At the most you can talk the broker into getting another deal at the lowest brokerage possible.

      The idea of continuing in the same house under the new owner can also be discussed with the present owner. The thing is, if the new owner intends to rent out the flat then nothing would make him happy with a ready rental income from the day he takes possession of the flat.

      However, if that doesn't work out then you make sure that you get insured against such losses in the next house you take on rent. Clarify the terms with your next landlord in advance.
      Talk TRUE; Talk IREF

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