Renting Home From Property Management Company W/owner In Forclosure

[Flynn]

I am currently renting a home from a well known property management company here in California. The property manager did not notify us of a pending forclosure by phone or in writing.

I have three questions. The house is due to go to auction in 15 days, how much time do we have before we must move? Do we need to continue paying rent to the property management company(they are not the property owner)? Who do we go after to recover moving expenses?

The house was originally setup on a year lease, but has since converted to a month-to-month situation. Our rent is currently up to date, but a new payment is due on January 1st.

Thanks so much  for your help!

[Kyran]

While not an expert on rental laws for your state, I believe that you would have at least 60-90 days to move after the property passes into new hands.  If you are still in the property at the end of this notice expect eviction to be started and that can run another 30-45 days.

I would contact local non-profit foreclosure counseling centers to get your state's procedure.  You can find this free help at the HUD website:  www.HUD.gov

Once the property is sold at the public auction you do not have to pay rent to this property management company.  If the sale date is the middle of next month then I would only send in a half month's rent.

One thing to know is that if the bank takes the property back they will probably offer you a moving allowance in order to get you to leave and continue to maintain the property up until that time.  I would expect to hear from a rep from the new owner fairly soon after the sale.  Most are very easy to work with.

Feel free to keep me in the loop with any follow up information you learn.

Best wishes,

Steele