Legal Question in Landlord & Tenant Law in New Jersey
renters rights
hi have lived in apt complex for 14 years building was just sold as of april 1 my old lease just started march 1 for year is that lease still good even though new owner also yesterday in mail was new lease with rent increase for may 1 dont they have to give 30 days notice to raise rent
1 Answer from Attorneys
Re: renters rights
The sale of the building does not affect your lease. A tenancy is an interest in property and the new owner takes the property subject to the leases in existence at the time of purchase. If you have a lease that runs until 2/28/10, your rent is determined by that lease until the end of that term. The new landlord can't make changes until then unless you consent. After that, the landlord is bound by the same requirements for reasonable increases as would have bound the old landlord.
See also: http://info.corbettlaw.net/lawguru.htm
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