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William B. Esq.
William B. Esq., Lawyer
Category: Real Estate Law
Satisfied Customers: 2701
Experience:  I am a civil litigation attorney with experience representing HOAs, homeowners, businesses and others in real estate matters.
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I just renewed a lease on a private home that I am renting

Resolved Question:

I just renewed a lease on a private home that I am renting in July of 2013 for another one year contract. The owner and I just spoke a few weeks ago about selling the home that I am renting from him. We both agreed and the home is currently on the market. At this point in time I have now been approved for a home loan and would like to find a place and move out ASAP because it is a real burden to continue to go through showings and open houses as I have two dogs and its not an easy process to say the least.
What are my options? Can I move out ASAP and will only be penalized my security deposit? ??? Please help!
Submitted: 5 months ago.
Category: Real Estate Law
Expert:  William B. Esq. replied 5 months ago.

William B. Esq. :

Thank you for using our service. My name is XXXXX XXXXX X would like to assist you today.

William B. Esq. :

Unless your agreement with your landlord permitted you to break the lease at any time (a reasonable provision given that you would be expected to leave at any time if the home was sold), you would be held responsible for rent for the period of time between when you vacated the home until the time that it is either sold, or the landlord through reasonable efforts rents the unit (alternatively he could take it off the market).

William B. Esq. :

(That should read - "rental market" - as soon as he takes it off the rental market or is not making efforts to rent the unit, your liability would end), my apologies.

Customer:

OK, the lender that I am working with stated that Wisconsin has a clause that if I am renting a home that is for sale I am not held responsible for the lease term and the worst the owner could do is hold the security deposit. Is that not accurate?

William B. Esq. :

I have not seen any statutes that support that position. Wis. Stat. 704.15 governs notice requried to terminate a lease and the resulting termination of the lease. You can find a link to the statutory scheme here: https://docs.legis.wisconsin.gov/statutes/statutes/704/15

William B. Esq. :

If the realtor has a specific statute or regulation to the contrary that would change this analysis, but I do not see it apparent in the code.

Customer:

In summary I can be sued for months not paid by moving out ASAP?

William B. Esq. :

Yes. But your liability is limited - you can only be held responsible for the time that the landlord is unable to get a tenant using reasonable efforts, and it appears that your landlord may be taking the property off the rental market based on his efforts to sell the unit.

Customer:

I wish you had better news! I guess we will do our best with our current landlords to rectify the situation and come to a "common conclusion" so that it works for both parties.. Thank you for your time and advice!

William B. Esq. :

You are welcome. I do wish you the best of luck in this matter (hopefully they will be reasonable).

Customer:

I agree! Thank you again

William B. Esq. :

I hope the above is helpful, if you have any questions please do not hesitate to let me know and I will follow up quickly.


Thank you for using our service, please do not forget to rate my answer when you are satisfied.


 

William B. Esq., Lawyer
Category: Real Estate Law
Satisfied Customers: 2701
Experience: I am a civil litigation attorney with experience representing HOAs, homeowners, businesses and others in real estate matters.
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