I have been in this rental property since June 2010. I have been on a month-to-month lease since June 2011. The broker for the homeowner stated she has a few investors interested in the property and i can remain in the home under certain conditions. 1. I sign a 6 moth lease. 2. The rent will decrease to $900.
My problem is that i have plans to move within the next 6 months or sooner and i am not wanting to sign a 6 month lease and I want to stay on the month-to-month lease. If the home is sold before i move out and a transfer of ownership and new property management company occurs, what will happen to the lease terms from the original lease? Such as: conditions of the property noted on the lease prior to movie in. My deposit. etc. I don't want to sign a new lease and break it.The broker called me yesterday and said that the Investor would be willing to let me stay in the home but i would need to sign a 6 month agreement and they will include stipulations for me since I will be moving. They will allow me to break the lease if i give them a 60 days notice and i dont have to be in the home the entire 60 days. In all of my years of renting, i have never came across this issue. I dont feel comfortable signing anything. I will be happy to move but i think the broker is trying to sell the home as a rental property investment with an occupied tenant. The home is also in the beginning stages of foreclosure and they are trying to go through a short sale.