Q: Can my current property management company hold me in a year lease when I don’t have an actual signed lease with them?
I signed a lease with company A that random February 2018 to January 31st 2019. The lease has an automatic renewal clause that stated it automatically renewed for 1 year but they would sent out a noticing giving provisions for lease renewal. Company A was sold to company B in November 2018 and a letter was sent to me saying moving forward I would pay rent to company B. Right before my Company B sent out a letter asking me to initial closing whether to renew my lease for a year, 6 months or move out. I initialed saying I would renew for a year. Because I never actually signed a new lease with Company Bs information on it and I only received the letter asking me to choose what terms I want with company and letterhead, are they still able to bind me to the lease, even though the actual rental agreement signed initially has company A’s information on it.
A: When Company B acquired Company A your lease was also acquired and transferred to Company B whether you were told or not. so, regarding the issue of you breaking the lease and leaving early, you lose. Written contracts are written for a reason. And they are not easy to get out of.
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