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Re: Landlord selling the property

Posted by John on February 04, 2000 at 21:52:34:

In Reply to: Landlord selling the property posted by Sarahjane on February 04, 2000 at 19:57:47:

He has to follow the terms of your current lease, I believe, (I know New York real estate), but at the end of it I am sure he can ask you to leave but why would he? Most landlords, unless they want the property for their own purposes or you are not paying market value, don't like turning over steady tenants. It is very easy to get a bad tenant, so if you have been a good tenant I am sure they will want to keep you. In fact a building, normally, has to be occupied for a Bank to give a mortgage. So, are you paying market value and when does your lease expire. You might ask to renegotiate your lease with your current landlord to get it extended for a longer term. A long shot but what would it hurt to ask? However, the shorter the lease the more valuable a piece a property.
Good Luck
John

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