My colleagues are correct. Ultimately, your issue comes down to the terms of your lease. If you're in a fixed term, it is less likely the new landlord will be able to increase your rent. However, at the expiration of a fixed term, many leases allow landlords to raise the rent as long as the landlord provides adequate notice to the tenant (such as 60 days notice).
This reply is provided for information purposes only and does not represent legal advice or an attorney-client relationship.
Was the apartment building voluntarily sold, or was it sold in a foreclosure sale?
Take a look at your lease. In most instances. the new owner must honor the existing lease agreement, and cannot arbitrarily increase the rent or change any of the terms of the lease that is still in effect.
Frank W. Chen has been licensed to practice law in California since 1988. The information presented here is general in nature and is not intended, nor should be construed, as legal advice for a particular case. This posting does not create any attorney-client relationship with the author. For specific advice about your particular situation, consult with your own attorney.
A lease is a contract and its terms are legally enforceable. It terms cannot be altered until it expires. A landlord cannot force a renter with a valid lease to sign a new one. That would appear to be the reason that your landlord is "trying" to get you to sign a new one. Good luck.
I have been licensed to practice in the State of Oregon since 1990. I am not offering legal advice regarding your question, only general information regarding the law. You are not my client nor am I your attorney unless we sign a retainer agreement.