Q. I signed a one-year lease ending six months from now. I thoughtwe had an implicit agreement that I would rent the unit both this andnext year, I was informed that my landlords are going to sell thisunit.
A. It is very hard to enforce an implicit or spoken agreementadded to a written lease. Every detail important enough to talk aboutis important enough to put in writing.
Q. Can the new owners break the contract I have now and kick meout of my unit before the lease ends? How much notice do they have togive me?
A. A lease is said to "run with the land," meaning when a propertyis sold, the lease comes along intact.
Occasionally a lease might have a termination provision allowingfor early cancellation. Advance notice would depend on thetermination clause. Any time less than a full 30-day rental periodprobably is not enforceable.
Q. Will the new owners have to compensate me in some way if theydo break the lease?
A. The urgency of the new owner for possession of your unitprobably will guide their willingness to pay you to move early.
Typical compensation you should ask for includes payment for theexpense of locating a new unit, moving and other relocation costs.Compensation also should include the difference between the old rentand the new rent.
An inconvenience fee to you, between half a month and two months'rent could be an inducement for you to leave early.
Put this deal in writing. Make sure both copies of the old leaseare marked "terminated by mutual agreement" with an effective date,your signature and the landlord's signature next to the notation.
Write mediator Ed Sacks at Apartment Watch, Homelife, Chicago Sun-Times, 401 N. Wabash, Chicago 60611, or send an e-mail to:apartmentwatch@ suntimesmail.com.
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