Question Details

Allisonm, Renter in Westwood, NJ

Do I still pay rent when landlord is being foreclosed on?

Asked by Allisonm, Westwood, NJ Thu Jan 19, 2012

The maintenance at my apt. complex has been non existent. Broken washers, knee high grass, pool was never opened.... I have inquired about what is going on but get no answers. I just was just told that the apt. complex is being foreclosed on. Do I still need to pay rent ?

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Answers

7
The fact that the owner is in foreclosure does not relieve the tenant from the obligations of the rental agreement. On the other hand, if the landlord violates the lease by not providing adequate services, the tenant should have the right to redress. Contact an attorney in your state and find out what your legal options are. Most likely, if you stop paying rent, YOU are in breach and can be evicted. You want the law on your side, not break it.
0 votes Thank Flag Link Wed Mar 14, 2012
Allison,

This is a fairly common question. As long as the owner retains ownership, you are responsible for honoring any lease/rental agreement. Ownership will be maintained until the property is foreclosed on and the bank takes ownership of the property.

To not continue with your agreed upon responsibility may be opening yourself up to litigation. Maintainging you rental agreement would be advisable.

Bill
0 votes Thank Flag Link Thu Jan 19, 2012
Maybe an Attorney would be best idea(but probably costly). Think you may want to read your lease carefully as Rob's suggestion may be a possibility. We are about 15-20 minutes from your area in Westwood! Best of Luck!
0 votes Thank Flag Link Thu Jan 19, 2012
Yes. You still pay rent.

You still have a valid lease with the landlord. The landlord's (or owner or management) financial status has nothing to do with your obligation.
0 votes Thank Flag Link Thu Jan 19, 2012
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
Contact
For any necessary legal advice, do consult with an attorney who specializes in real estate; generally for as long as landlord is still the owner, your lease agreement needs to be honored and it includes paying rent....
0 votes Thank Flag Link Thu Jan 19, 2012
Alisonm sorry to hear of your dilemma . Yes! still pay your rent,it's not you in default so don't put yourself in that situation. This realtor is in your area..check out his answer to a similar question
http://fetchsparky.com/index.php?p=/discussion/29/landlord-u…
0 votes Thank Flag Link Thu Jan 19, 2012
Allisonm, normally the answer would be yes. However, from what you described you need legal advice to indicate your options. Typically when a landlord does not care for the property being rented there are specific procedures a tenant must follow to ensure proper notice was give to landlord to correct deficiencies, and in our area a separate escrow account would be set up where the rental money would be held, until those deficiencies were corrected.

Only deal with knowledgeable/reputable professionals to protect your interests.

Best of luck,

Rob Hughes-Long and Foster-RE INC.
0 votes Thank Flag Link Thu Jan 19, 2012
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