Episode 45: As a Tenant, What to Expect WHEN Your Landlord Changes
Summary
Any time of transition can be scary as a tenant, especially when your landlord changes. In today's episode we dial down the panic and stress when a landlord changes by understanding WHY a landlord is changing, what paperwork or meetings you can expect when the landlord does change, and then what about your deposits going to the new landlord? While this time can be stressful, today's episode helps tenants know what to expect when a landlord transition is coming up.
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Full Episode Transcription
Welcome to my life as a landlord where we untangle all things housing and educate the curious. If you're
looking for some entertainment with some honest, awkward conversations, you've come to the right
show. I'm your host, Dr. Jennifer Salisbury. This is my life as a landlord. Welcome to it.
Hello Hello, I am Dr. Jen. Welcome to my life as a landlord. Today is episode number 45 and it's a tenant
minded topic. Today's episode is named What to Expect When Your Landlord Changes. This can be a bit
of a scary time when you are a tenant, knowing that your landlord is changing soon. Oh my goodness. So
we're going to address that today. This podcast is a predictable US and Canada podcast of three
predictable rotating topics landlord info, tenant resources and other Salisbury adventures which you
never know what you're going to get when it's another topic. Whenever possible, I invite experts to join
me on a variety of topics while also pulling from my own experiences with rentals on both sides of the
border. My goal with this podcast is to educate you, as a US and Canadian landlords and tenants who
seek calm, success as you like that, calm success like that. So let's just jump right into today's episode.
What happens when a landlord changes in attendance? Life? It can be very scary. It can be a time of
transition. You don't know what it's going to look like, you're not sure what's happening. And quite
frankly, your landlord could transition and you may not even know it. And so we're going to talk about
why this landlord is changing. What? Your meetings, your paperwork? What will happen when the
landlord transitions what you know? How would you even know that it's happened? Should you expect a
rent increase? Should you expect somebody giving you notice that they want to move in? What about
your deposits that you've paid at the beginning of your tenancy? What happens to all of that when the
landlord changes? Right. So let's jump in okay. So point one we're going to talk about why the landlord is
changing. Why it's even changing at all. Is the house for sale or is it in escrow. If you've got a state or a
province that uses escrow? Or is it like is there a for sale sign in front of the house? Maybe the landlord
is ill or incapacitated, or maybe even passed away? Maybe you got a notice from a neighbor or family
member that that the landlord has passed away. Is the landlord hiring a property manager is how how are
you going to know something has changed? How would you know this is even happening? So let's go
through each one. If the house is for sale and there's a for sale sign in the front of the yard. 1s Then it's
pretty obvious that that the house is going to be listed. The house is for sale, that you know that there's an
upcoming change and your landlord is going to change with it. There may be also requests to show the
house, even if the house is not listed for sale. There may be requests to show the house. Right. And so
you just never know whether the house is listed for sale or not. The house may get sold. Right. So if the
landlord is unable to continue being your landlord, right. Maybe there's a reason for that. Has the
landlord been in ill health? Maybe you have had no communications with your landlord. Maybe you've
been trying to get something repaired and the landlord has not responded. Maybe you've just had the
landlord's family has been in contact or even has been around. You're not sure, but it just seems like the
landlord that you had started your lease with isn't available. It just seems that something is off. The other
thing that might happen is maybe a property manager has been hired. Maybe the landlord has just wanted
to shift what they're doing, or the family has shifted what they want to do, and the property manager has
been hired. And so how would you know that? Have you seen a property management company either
driving by or giving you a request to enter the home? You may have also received a letter on a certain
day to the property management company would take over management. You may have even had
somebody come and knock on the door and just introduce themselves. You never know when a landlord
is going to transition and because a property manager has been hired, they can approach you in many
different ways. So the first aspect of transitioning is. There's going to be some way that some way that
somebody's communicating with you, that something has changed. Whether the house has been for sale
or property manager has been hired, or the landlord that you started with is not continuing. That's the first
aspect. What about the transition of this landlord? What paperwork, what meetings will happen? What's
going to happen? And when a landlord changes, you're probably going to get several items in writing,
right? In writing, and this is the kind of stuff that you want to make sure that you know, that is captured,
hopefully captured on your lease. I know there's a lot of people that are operating as both landlords and
tenants, and they're just operating on a handshake and there's not a written lease. And oh my goodness,
please do not let that be you. Please have a written lease, even if it's written on a bar napkin, which I don't
recommend. But that's better than nothing. But when your landlord changes, you will very likely get a
letter from the new party, including contact information on who is the new landlord and specifically the
date of the change. Right. They'll say coming up January 1st of the next year, the landlord will be this
person or this company and. 1s So 1s what you can expect after that is a new lease with them. Now, if
you are on a fixed term lease, let's say you signed a year lease and this landlord changes happen in the
middle of your fixed term lease. The only thing that should be changing on that lease, unless you agree as
a tenant, unless you agree. The only thing that should be changing is that where you pay your rent
because you're going to be paying to this new landlord. But the name of the new landlord, right? You
now have. You're not in a contract with the previous landlord anymore. You're in a contract with the new
landlord. And so when you're in a fixed term lease, the transfer to the new landlord's actually quite
simple because nothing changes. They inherit you as a tenant. They inherit your agreement as a lease
with a lease, they inherit it and they're under obligation to adhere to it. And unless you agree to do
something different, which you don't have to do, that is part of the sale of what they have bought, or
maybe the family has inherited or the property manager has started. Okay, okay. But if you are a tenant
and you have a lease that is month to month, then you could a couple of different options. You could get
a rent increase notice with a new lease with the new landlord. Right now. Keep in mind big, big asterisks
here. It must be in accordance with your local housing code or act right. They can't just. They can't just
make it up and say, we're going to up your rent by X amount of dollars or buy this percent. It has to be in
line with your Local Area Tenancy Act or Housing Code or however it is. Also, you may get a notice if
you're a month a month tenant. You may get a notice that the landlord wants to use your unit personally,
but it depends on who is buying the unit and where. Because if a company is buying the unit, if the
company is buying, let's say you're in a single family home. If the company is buying this and depending
on where you are, if it's a company, a company cannot use a rental as personal use. You can't give the
tenant notice that you want to use that unit personally. If it's a company. Now that might be a little bit
confusing and I'm speaking fast, but you've got to do your homework here that if it is a company giving
you notice that they're the new landlord, then you know that potentially they may not be able to use it for
personal use. Again, it's geographic dependent. Some places are different than others. So I encourage you
to make sure you know your local housing code or act. Okay. Next thing the new lease with the new
landlord. They're going to tell you how to pay your rent to the new landlord. It could be the same as the
previous landlord, but they may have an updated way they want you to pay. They may have a new way, a
new bank, or they want you to. If you're in Canada, they may want you to transfer it to somewhere else.
If they if you're in the States, maybe they want you to Venmo it to a different location or a different bank
or give you, you know, they want, you know, a year of pre-paid checks or pre, you know, post-dated
checks. It just depends. And it's going to that part specifically is going to change because you're not
going to be making payments to the old landlord anymore. You're going to be paying the new landlord.
The last thing that you can expect paperwork wise, when you're transitioning the new lease to the new
landlord is how to report items of concern, right? Something needs repair, or you have an emergency, or
you got something that needs addressed. You need to know who to call, right? They they need to. And it
may not be the landlord. Maybe it's it's a neighbor or maybe it's a local handyman, or maybe it's a
property management company or whomever, but you need to know who to contact for repair items or
items of concern. Okay. So those are some of the different things that you can expect to change when
your landlord changes. It is a time of transition. But then the last part is, is that what should you do as the
tenant with a landlord change? What should you do as the tenant with a landlord change? First of all, you
know a lease change is coming up. Like if you know that your landlord is ill or you know the house is for
sale, or you know you've seen a property management company that's been coming by or whatever it
may be, if you suspect is, you can expect that you're going to get notice that a lease change is coming
now. Here is the most important part for you as a tenant. You as a tenant have paid deposit or deposits.
To the previous landlord is a part of this transition. You should receive notice that your security deposit
or any other deposits on hand, whether it's pet damage deposit or last month's rent or however it is
structured in your local area of what is deposits and whatever money the previous landlord had on hand
for you, it should be transferred to the new owners and you need to confirm that as a tenant, you need to
confirm that. Know that your standard Local Area Code Act rules apply when a fixed term lease is up
and or you shift month to month. But here's the trick. We all know time marches on and health and
environments, everything changes. So in the course of your tenancy life. A shift in the landlord is almost
expected. Don't panic. I'm looking at the camera for you YouTubers. Don't panic. This is normal in the
course of rentals, just as tenants come and go. Landlords can come as go as well. But here's your call to
action. All you tenants out there who are wondering what to do if you know that a landlord transition is
coming. Guess what? Read your local tenant code or Residential tenancy act. Make sure that you are
familiar with how a landlord transitions in some states or provinces or territories. It is very specific on
what you need to do and what you should do on both the tenant side and the landlord side. Okay, so make
sure you're familiar with the local area, which is good. Today's episode is quite quick, but I wanted to
make sure this can be a real point of stress for tenants when they know a transition is coming, it can be a
big source of stress. It can be a source of panic. I want to make sure that that you are educated as a tenant
on what happens when a landlord is transitioning or you know what's coming up. Let me know your
comments and questions and your stories by emailing me. Learn at my life as a landlord. Know your
questions, comments, stories, create the next podcasts and resources. I am so excited that you join me
today. Thank you so much for tuning in! Join me for next week's podcast which is another Salisbury
Adventure topic. Next week is episode 46 and the title is one of my favorite locations in the world, and
it's entitled Where in the World is Powell River? You're going to learn all about Powell River coming up
next week. We'll see you there.
Thank you for joining us this week. To view the complete show notes
and all the links mentioned in today's episode, visit our website at www.mylifeasalandlord.com. If you're
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Thank you again for joining me, Dr. Jennifer Salisbury in this episode of My Life as a Landlord. I'll see you next time.