AgentRentals

Calif. considers hefty fines for landlords who hide default

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Q: I rented a single-family home two months ago, only to learn today that the owner is losing it to foreclosure; the sale is scheduled for next month. Obviously, he knew about the default when he rented us the house, but said nothing. Do we have any recourse? --Tom T. A: You're not the only tenant who learned after signing a lease or even moving into a month-to-month arrangement that the property is about to be lost at foreclosure. That news brings several risks. First, tenants often experience decreased services, in the way of upkeep and utility payments, as increasingly strapped owners put every penny towards trying to save the property -- or, conversely, realize they're going to lose the property and just stop caring. Second, after the foreclosure sale, tenants face many uncertainties -- where should the rent be sent? To whom should maintenance requests be made? Most importantly, many tenants don't realize that they have protections following a sale (most leases will ...