Q: Isn't a property manager legally required to tell a potential renter that the complex is being sold?
I was not told until I moved into an apartment that it had been sold. Isn't that fraud?
A: Not at all. A landlord must disclose in writing to a potential tenant, before the execution of a rental agreement, if the dwelling is the subject of an existing lawsuit such as it is being foreclosed upon or potentially being forfeited, but landlord's are free to sell the rental dwelling all the time. Any sale may only affect the tenant in that they have to pay their rent to the new owner instead. Alternately, the new owner can terminate month to month tenancies with proper notice, but that is no different than the original landlord could do. Bottom line is the new owner cannot do anything different or sooner than the original landlord could - so where's the fraud?
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