Will our rent rise when building sells?

Tenant concerned that new landlord won't honor lease

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Question: My roommates and I signed a lease on a townhouse in August of 2005. Our lease stated that after 12 months, we would be on a month-to-month rental agreement at the same rental rate. We learned last week for the first time that our landlord had sold the property to another owner several months ago. Are both sides bound to the same lease terms or are we technically living here without a lease? Could we be thrown out without notice or have the rent raised? Property manager Griswold replies: Based on your move-in date of August 2005 and the 12-month term of your lease, clearly your lease has expired and you are now on a month-to-month rental agreement basis with the new owner. When a property changes ownership the new owner is bound to the terms of the lease in place unless there is specific language that states otherwise. So if your rental property came under new ownership before your lease expired in August 2006, the new owner cannot change the terms of your fixed-...