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Renting a property that's for sale

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  • 12-09-2008 10:29pm
    #1
    pow wow
    Closed Accounts Posts: 5,288 ✭✭✭


    I've been viewing a few places recently to rent and have noticed (not through the agents informing me...more from google) that a few of them are also being marketed for sale. Presumably the owners wish to rent them out while trying to sell them in the current market, but if I sign a lease and the house sells in a couple of months - where does that leave me?

    They are being offered on 12 month leases, so there'll be a break clause in there somewhere. Is there a standard notice period I would have to be given to vacate if the property is sold while I'm living in it?

    The agents are closed until Monday and I know leases vary....but is there a minimum notice period?


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    #2
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,279 Mod ✭✭✭✭The_Conductor


    Minimum periods of notice are spelt out in the Residential Tenancies Act - as per here


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    #3
    KhanTheMan
    Closed Accounts Posts: 292 ✭✭KhanTheMan


    ellscurr wrote: »
    I've been viewing a few places recently to rent and have noticed (not through the agents informing me...more from google) that a few of them are also being marketed for sale. Presumably the owners wish to rent them out while trying to sell them in the current market, but if I sign a lease and the house sells in a couple of months - where does that leave me?

    They are being offered on 12 month leases, so there'll be a break clause in there somewhere. Is there a standard notice period I would have to be given to vacate if the property is sold while I'm living in it?

    The agents are closed until Monday and I know leases vary....but is there a minimum notice period?

    A guy who works with me is renting such an apartment. Its handy for him as hes getting a 10% discount on the rent for the fact he might have to up sticks and leave. He doesnt mind this at all, so its worth it for the discount he gets. However if this is a problem for you then you shouldnt do it.
    Definitely have the same notice on both side. ie if you want to leave its a months notice and if they sell the house and want you to leave its a months notice too.


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    #4
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,279 Mod ✭✭✭✭The_Conductor


    I agree- it does sound like a perfectly reasonable arrangement that you would have an additional discount on the rent because of the relative insecurity of tenancy. The 10% mentioned above sounds fair enough?


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