Legal Question in Real Estate Law in California
I am using a property management company to rent out a house I own. I received a call from one of the guys that work there on Jan 10, 2013 stating that the renters have given notice that they would be moving out in a couple of weeks because they found a cheaper place to live. The guy also mentioned it was a good time to sell becuase housing inventory was low in that area (he is also has a real estate license). He said I could either sell or rerent, I told him I would speak with my partner and get back to him. We decided since the renters were leaving we would sell. When I asked the property managment company if I get the deposit because the renters broke their lease, they told me no because I told the renters to get out because Iwanted to sell the property, which was not true. I have numerous emails between myself and managment company explaining to them more then once that I did not break the lease. When I requested a copy of the lease agreement between management company and renters so that I could give a copy to a lawyer they then replied to my email saying sorry about the confusion and that they would pay out the remainder of the lease monthly per lease agreement. So now my question is, am I allowed to still sell my property? They told me the renters have moved out. Because they have decided to honor the lease does that mean that I cannot have a buyer take possession of the property until the lease is over with the property management company and previous renters who moved out on their own?
1 Answer from Attorneys
You can sell the property, but your sale of the property is subject to any existing lease. You should check with the tenants as to whether or not they are moving, as this affects how the property is listed. Your property management company does not sound like they are doing a very good job.