if my apartments are under forclousure do i have to pay my rent or do i save up to move?

Asked by Tamrich62375, Sacramento, CA Tue Aug 30, 2011

because the mangement company lied and said that we dont have anything to worry about but now they wsont answer the phone because they sold the apartments

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Michele Peterson’s answer
Michele Pete…, Agent, Rocklin, CA
Tue Aug 30, 2011
Please, honor your lease and rental payment obligations.

Depending on where the buiding is in the foreclosure process, bankruptcy, etc. there is possibly already a company managing the property. This company is responsible for collecting rents, renting units, repairs, and also evicting tenants who are not paying.

The last thing you need is an eviction on your credit history while searching for a new apartment.

Communicate with the manager and find out what your options are in relation to the situation. Not wise to guess about the balance of the details.
1 vote
Trudy Vierra, , Contra Costa County, CA
Tue Aug 30, 2011
If you have a lease contract with the owner of the property or a property management company representing the owner you are legally obligated to pay rent until the bank reposes the property.
This has been tested in small claims court many times and the tenant loses the case and has to make restitution to the property owner.
Have someone (Realtor, Title Co. Rep.) keep a close eye on the county recording office to see when the bank takes possession. Most banks that reposes a property that is tenant occupied will pay the tenant money to vacate the property. Price may very per bank. You will be asked to show proof of Lease agreement.
0 votes
Sue Archer R…, Agent, Palm Harbor, FL
Tue Aug 30, 2011
SOMEONE will own the apartments, even if the new owner becomes the bank. Your lease is enforcable no matter who the owner is. Your management company may not have lied on that respect although they should be answering the phones so not sure what that's about.

if you stood before a judge, you would be discussing your contractual obligation, not that of the property owner. Honor your lease agreement and keep yourself clean on your performance. If you have any questions on your tenancy, I would suggest you contact an attorney.
Web Reference:  http://www.suearcher.com
0 votes
Ed Favinger, Agent, Folsom, CA
Tue Aug 30, 2011

You know... all the answers you have before are correct. You should honor your obligations. However, it does beg the question why the management company "won't answer the phone" because "they sold the apartments"...? I don't understand what you mean by this.

Are you saying you think they have been sold the property to someone else...? Tell us more... I'm just curious as to the real nature of your circumstances.

I hope this helps...

Make it a great day...
0 votes
Bruce Slaton, , Elk Grove, CA
Tue Aug 30, 2011
As a renter you are paying rent for the right to "occupy" not for the right for the owner to pay their bills. Up until the owner loses ownership of the property, they are entitled to rent.

What you dont want to find yourself in the position of is (1) being evicted and it going on your credit and (2) being held responsible for rent owed on the amount of days you occupied the property.

I agree with everyone else, pay your obligation as essentially two wrongs do not make a right and the owner could be in the process of modication etc and you would become the bad guy and could end up paying for it

Good luck

Bruce Slaton
Web Reference:  http://www.eCurbRealty.com
0 votes
Bob Thomas, Agent, Sacramento, CA
Tue Aug 30, 2011
I am in agreement with Elizabeth; you should probably always honor your obligations. But also remember this, up until the day before the property actually goes up for sale on the court house steps the owner of the property can go down to the county and made themselves whole. Meaning if they can get current before the sale occurs they get to keep the property. You most likely would not want to be behind on your rent if that occurs.
0 votes
Pacita Dimac…, Agent, Oakland, CA
Tue Aug 30, 2011
If you have a lease that's enforceable, the new owners would have to honor that lease, and so should you.

If you don't pay your rent -- then they have the right to evict you.

The management company simply manages the property and that includes collecting rents. They may have had nothing to do with seling the property if they don't own it.
0 votes
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