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Question Details: I've signed a fixed term residential tenancy, and officially gain the keys in a few days time. However I found out the owner possibly selling the property and is taking people to look through the place. If they decide to sell the property what does that mean for my lease agreement? It's written in my agreement that I cannot give notice and the tenancy is fixed for a year. Does that apply both ways or can the owner cancel it when they sell?
Filed under Tenancy | 1293 View(s)
Community Law Wellington & Hutt Valley
You have a right to stay in the house until the end date of the tenancy agreement. Fixed term tenancies cannot be cancelled by the owner selling the house.
If the house sells, the new owner will be bound by your tenancy agreement (and you will still be bound by it too). As your tenancy is for a fixed term it ends on the agreed date and it cannot be ended early by giving notice. For more information on ending a tenancy and notice requirements please head along to this website: www.communitylaw.org.nz
Sometimes in these situations the current landlord can offer to pay you compensation to move out early. If you can negotiate and agree a payment that you are happy with, you might choose to agree to move out early. But if you want to stay until the end of the tenancy, that is your right.
Answered 22 Feb 2013. The IMPORTANT NOTICE below is part of this answer.
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