Legal Question in Real Estate Law in California
I rent a commercial space and the landlord recently sold the building. Is there a restriction on how high the new owners can raise my rent? Will I have to sign a new lease with them immediately or when my lease it up? Is it within their rights to immedicately evict me before my lease is up?
1 Answer from Attorneys
Your present lease governs the pricing terms and length of your tenancy and applies to a new landlord, by assignment from the old landlord. New landlords do not like to lose tenants; that being said, new landlords will honor the terms of the lease you have with the present landlord, unless they want to buy you out of the lease for some reason; at that time you can drive a bargain with them if the new landlord wants possession that bad. So review the terms of your lease carefully and don't let the knew landlord push you around in attempting to get you to negoiate new terms.
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