Q: My apartment building got sold. I signed one year lease in Portland, OR. What are my rights? Can I be forced to move?
I just moved into the apartment less than a month ago. I found out that the building is being sold. Can I be served a no cause eviction if I have a one year lease? Will the new owner have to pay relocation costs if I am forced to move? What are my rights in this situation? Ideally I would like to stay here for through my lease. What are my rights in this situation and what are the possible outcomes of this scenario?
A: No, you should be fine. You will need to pay your contracted amount of monthly rent to the new owner when the sale is finalized instead of to the old one but otherwise everything should be the same, subject to the new owner potentially trying to change the rules. Regardless, as long as the new owner is not trying to personally come in and live there, or assuming you have more than 4 units, your lease should be good for the entire balance of the lease term. Whether it gets renewed at the end will be up to you and the new owner when the time comes, unless there is some sort of automatic renewal provided for in your lease.
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