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Flat/ Walkup Building bought by Investor for demolition

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  1. #1

    Join Date
    Oct 2018
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    Flat/ Walkup Building bought by Investor for demolition

    Hi guys and happy new year!

    I am living in a subdivided flat in an old 5 stories walkup building.
    My landlord gave me notice that all apartments were bought by an investor and that they are planning to build a new house in 6 months on the land which the old walkup is on.
    I am currently on the second half on my 1/1 year tenancy contract and I could move out with one month notice.
    My landlord promised me that there will be an agreement that the investor (my future landlord) will not be able to break my lease for 6 month because its an agreement made between the investor and the landlord. Further he recommended me that I should wait for the 6 months to pass until the investor really wants to get us out, because they would pay for my move and I could have some financial benefit from that.

    I am now wondering if I should start lookin for a new flat or really wait first.
    I am bit concerned that the new investor will not take care of the basic maintenance measures like cleaning staircases or ensuring that water and electricity works smoothly and that things are still safe.

    Has anyone been in similar situation before and could share is experience? Or any other advise will be welcomed.


  2. #2

    Join Date
    Jun 2007
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    Ex Sai Kunger
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    Your landlord has sold the building and I'd want to see everything in writing ( legally ) via a witnessed contract stating that the new owner 'will' in fact pay all your removal costs if you continue to tenant the property. If so, then look for a new rental a month before your notice period is up and get yourself ready to move.


  3. #3

    Join Date
    Feb 2005
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    Does your current LL have any deposit from you?? If he/she does then you need to get that back ASAP.

    JAherbert, Skyhook and hullexile like this.

  4. #4

    Join Date
    Feb 2009
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    If you're already on the second half of 1/1 tenancy agreement, then it means old landlord can kick you out at any time now just giving you a month or two notice, without any relocation expenses covered. If new landlord takes over tenancy agreement from old landlord, I would expect them to take over all the same conditions, ie they can kick you out any time they want now as well. So I don't see why they would cover any of your relocation expenses. Maybe if other tenants of the building are on fixed agreements that the new landlord wants to end early, then yes they will have to do something extra to get them out. But in your case, already on the second half of tenancy, there is no need for them to do this.


  5. #5

    Join Date
    Dec 2002
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    A lot of new tenancy agreements (2 different ones I've heard of in the last few weeks) seem to have a clause in them that the contract can be ended with six months notice if the landlord sells the apartment.

    OP read this...

    https://clic.org.hk/en/topics/landlo...xistingTenancy

    https://clic.org.hk/en/topics/landlo...tingTenancy/q2


  6. #6

    Join Date
    Apr 2003
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    whatever the old LL says/promises is meaningless, when the new owner takes over the old arrangements with old LL cant be enforced

    shri likes this.

  7. #7
    Quote Originally Posted by JAherbert:
    whatever the old LL says/promises is meaningless, when the new owner takes over the old arrangements with old LL cant be enforced
    Only partially correct - it can still be enforced against the old landlord provided you can show evidence of an actual agreement. An oral exchange will (likely) get you nowhere.

    Of course, once the old landlord has completed the sale, the leverage for getting reimbursed disappears.

    The practical answer is to draw up a one page agreement to be signed by all three parties which says that in exchange for the tenant moving out on or before XX date that (i) deposit will be refunded by PARTY in full with no deductions for any damages etc and (ii) you will be paid the sum of $XX by PARTY as a contribution to your moving expenses within 3 days of vacating the premises. Obviously, you can ask for money before departing but that's a matter for negotiation.

  8. #8

    Join Date
    Oct 2018
    Posts
    13

    Thanks everyone for your replies. Some updates on this case:
    - Meanwhile I have received two letters from solicitors, which state that owner of the flat has changed and state the name of the new owner. Further it mentions that the deposit has been transferred to the new owner.
    So that gave me peace of mind regarding my deposit.
    - I asked my agent regarding if the new landlord could break my lease. She told me in the beginning that the new landlord could not break until the end of the contract and I was asking why? But she could not explain and after a while suggested me to move into a new place to be "safe". $$$
    - On the topic of relocation costs, I asked my old landlord again and he just mentiones that this is a little bit complicated and not heard back from him since then. Dont have any hope that any costs will be covered.
    - I also contacted the contact person of the new landlord and he had told be via whatsapp that I could stay until the end of my lease. But he is also waiting for further instructions from his company.


  9. #9

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    - I also contacted the contact person of the new landlord and he had told be via whatsapp that I could stay until the end of my lease. But he is also waiting for further instructions from his company.
    Make sure you screenshot / save these conversations for sake of record.
    emx likes this.

  10. #10

    Join Date
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    Quote Originally Posted by traineeinvestor:
    Only partially correct - it can still be enforced against the old landlord provided you can show evidence of an actual agreement. An oral exchange will (likely) get you nowhere.
    unlikely the OP was a party to any agreement made between the old landlord and new landlord, sure one can argue there was some type of oral agreement but we know that type of agreement is useless in practice.

    the OP said the new LL has taken over and will honour the contract, of course they will, but they want to demolish it, so they will likely terminate the OP tenancy at the first opportunity.

    It is possible that other occupants somewhere in the building have a longer tenancy agreement than the OP, so there is no cost for the new LL to wait for shorter tenancy's to finish.
    Skyhook likes this.

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