What are my rights as a tenant when my landlord is selling the property?
With the property boom across the country pushing house prices higher, more people are faced with the prospect of long term renting as they are being priced out of the market. With this in mind, if your landlord decides to sell the property you are living in, there are a number tenant rights that you should be aware. This short article will discuss your rights as a tenant in Queensland as they do vary between each State.
Most importantly, you do not have to vacate the property simply because it is going on sale or has been sold. As a tenant you are protected for the duration of you lease unless you breach the terms of your agreement or you and your landlord agree for you to move out. That means that if your lease expires in December and the landlord sells the property in June, they cannot ask you to leave until your lease expires. Prior to this however, the owner or agency that plans to sell the property, must give you a copy of Form 10 – Notice of lessor’s intent to sell. This is to advise you that they are intending to sell the property. Further, when conducting inspections to potential buyers, the landlord must give you a Form 9 – Entry notice and 24 hours notice to vacate. A new Form 9 must be issued and 24 hours notice given before any subsequent inspections.
In the event that the property is sold you will need to be provided with a Form 5 – change of property owner/manager. This is usually provided by the agency brokering the sale. However, if your lease has expired and a periodic agreement is in place, once a contract of sale has been signed the new owners have to give you 30 days to move out.
So in the event that your landlord is selling their property, if you are still under a lease agreement, you are protected until it expires. If your lease is expired then make sure you receive all the required noticed mentioned above and rest assured that you have 30 days to find a new place.