Q: Does a change in property management give me a way out of my lease without early termination penalty?
I am a tenant and after 3.5 years living in the same apartment received notice that the property management company that I signed a lease with has decided to no longer manage the property where I live. There notice states that a new management company will be taking over the management of the property. I have been wanting to move for a few months now but am stuck in a 1-year lease until this summer. My question is: Does having a new company “take over management” give me a way out without having to pay the early lease end fee of 1.5-months’ worth of rent? I signed a lease with the old management company, not this new one.
A: No, your lease is with the owner, just managed by the property manager.
A: Sorry, not likely. The owner could even sell the building to a new owner and it would not terminate your lease.
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