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Apartment being sold

  • 12-02-2017 5:31pm
    #1
    liamjames1
    Registered Users, Registered Users 2 Posts: 63 ✭✭


    Hi guys,

    Sorry if this has come up before but I've checked back 10 pages and can't see a similar thread.

    My apartment block is currently for sale. The banks repossessed it a few months back and are selling it with the tenants in place.

    We had a 1 year lease that expired and we now pay rent monthly. We have been living here two years.

    We really like the place and are keen to stay. Do we have any rights if the new landlord wants us out? We feel he will as the place is currently rented at c. 20% lower than market value.

    Thanks


Comments

  • #2
    the groutch
    Closed Accounts Posts: 16,096 ✭✭✭✭the groutch


    I assume you'd just continue your Part 4 tenancy.
    The new owner can't just kick you out, but they could give notice to vacate if they are selling each unit individually.
    It would be worth finding out if you're in a rent pressure zone, because if you are any rent increase is capped at 4%.


  • #3
    liamjames1
    Registered Users, Registered Users 2 Posts: 63 ✭✭liamjames1


    the groutch wrote: »
    I assume you'd just continue your Part 4 tenancy.
    The new owner can't just kick you out, but they could give notice to vacate if they are selling each unit individually.
    It would be worth finding out if you're in a rent pressure zone, because if you are any rent increase is capped at 4%.

    Thanks a lot. Very helpful.


  • #4
    newacc2015
    Closed Accounts Posts: 2,379 ✭✭✭newacc2015


    Are you sure the bank are selling it with sitting tenants? It is far from the norm. Banks usually evict existing tenants, as banks will not give mortgages on properties with sitting tenants.


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