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Steve, Other/Just Looking in Maui County, HI

our association has bought a unit. there are renters in it the lease agreement is to be honored . do we collect the rent?

Asked by Steve, Maui County, HI Wed Jul 7, 2010

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4
Steve,
That is probably all covered in the language of your purchase contract. If no agent was involved, you should consult with your attorney to explain the legalities of the lease agreement. Congratulations on acquiring a unit.
Aloha,
Georgina M. Hunter
0 votes Thank Flag Link Wed Jul 7, 2010
Without many details--For an accurate answer do consider consulting with an attorney who specializes in real estate--generally rents are collected by the owner--again, an attorney can best advise.
0 votes Thank Flag Link Wed Jul 7, 2010
If the lease that the tenant has with the prior owner is still valid and current, then the tenant stays until it expires. If the lease has expired and they are there on a month to month, then you are allowed to evict, however, you have to give them 45 days notice. I'm not 100% certain on the time frame but you may want to check that with the associations attorney to be safe. Aloha and let me know if I could be of more assistance.
0 votes Thank Flag Link Wed Jul 7, 2010
Hi Steve,

That's a tricky one. You have to consult the attorney for your AOAO. The lease is not with you, it is with the previous owner, and presumably it was foreclosed on. Since the lease is "in limbo" the question is - who owns the lease? Your management company can guide you on this, that's part of their job.

I would think the renters would have a legal status, since the lease was valid, however, the homeowner is no longer the homeowner. I would have thought the people leasing would have to leave when the home changed hands. Have you asked them to pay you the rent? Who are they paying now?

Write back when you get an answer. That's definitely an attorney question.

Aloha,
Frank
0 votes Thank Flag Link Wed Jul 7, 2010
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