Landlord Selling My Rental House
UPDATE: The realtor got ahold of me last night and informed me that my landlord isn’t “considering” or “going to be” listing the house but already has and upon looking it up I have found that it’s been listed for sale since 3/31 of this year. Which means they’ve kept me in the dark about the whole thing for months and waited to tell me until one month before I will potentially have to be out of the house. Considering I had no intentions of moving out and was going to resign my lease at the end of July, this gives me a very small time frame to figure things out or look into my options. They could have been transparent with me the moment they started considering selling the place to give me a comfortable amount time to think about my options. It’s just super disheartening and even more so because my immediate family is also moving across the country as soon as their home that they have listed sells so I have no fall back options while I try to find a new home for me and my daughter.
Bear with me because this might be a long post.
I just received a phone call from my landlord this evening that they are going to be listing the home that they are currently renting to me. My lease was going to be up at the end of July but I planned on renewing it as I am not in a place to buy a home or find a new home to rent as a single mom considering how bad the economy is and how high mortgage and rent prices are. The house is decent and in comparison to other rental homes in the area the price of rent here has been the most reasonable I had found in the Sioux City area. It’s a 3 bedroom (one of the bedrooms being the size of a small nursery or office space) for $1350 a month.
They are giving me the option to purchase it before anyone else, but I don’t think it’s a good option. They had a city inspection here a couple weeks ago and I have no idea how it went or if they found any major issues. I have a hunch that there may have been issues as it is pretty apparent that this house does have some foundation issues (cracks running vertical above the doorways and down the walls/ceiling in numerous places as well as a slanted floor in the living room) as well as possible mold issues (I’ve found that mold sometimes shows around some of the floor registers and the AC omits a very musty smell even with filter changes and the AC unit being cleaned out.)
I guess this post is just so I can get my anxiety off my chest and get opinions on what to do in this situation or suggestions on other rental homes in the area that are around the same price as I really can’t afford anything higher in rent but still want something comparable. To add I’ve lived here for 3 years with perfect rent payment history and I’m sure my landlord would vouch that I’ve been a reliable tenant.