Up here, if a tenant has a lease, the only way a new owner acquiring that property can get them out, is if it's at the end of the lease, ...or if the tenant has somehow broken the terms of that lease allowing the lease owner to terminate. At least that's how it was 12 years ago. Not as familiar with the laws now.
Another example of big business looking out for themselves and no one looking out for the common man.
they'd rather throw people out in the street, and let a property sit empty than risk the liability of what... the house exploding with the tenant in it? If you want ownership of a rented or leased property, you assume the risks of being a landlord until such time that the lease is up. If you'd rather it sit empty than assume the risk, ...then for goodness sake, don't foreclose until the tenants lease is up. Have some bloody decency. JMHO.
I guess it's getting to the point where tenants need to run a credit check on their landlords too.
Can you imagine a would be tenant applying to lease a property in the future? They'll have to start asking prospective landlords what kind of equity they have in the property, whether they have a fixed rate or adjustable rate mortgage, how many mortgages, and make sure to insert clauses precluding any sort of refinancing without prior tenant approval.
Can you imagine a perspective tenant coming to you with those kinds of questions and or demands?
I'd be like WTF?
I'm getting the giggles just thinking about it.
