Landlord can sell property while renter is still thereResale Homes Report

Q: I am currently leasing a condo and the owner has notified me that it has been listed to sell. My lease expires in seven months. What are my rights as a tenant?

Does my current contract stay valid for the next seven months, or can it be broken? What should I expect when someone wants to come by and see it? -- Paul C., Las Vegas

A: We seem to be getting more questions recently about the rights of renters. With more homes available here than ever before, and more property owners renting their homes, I suppose this is understandable.

To best answer your question, I'm enlisting the help of another local expert, professional property manager Linda Rheinberger, a past president of the Greater Las Vegas Association of Realtors.

Here's what Linda had to say on this topic:

"The lease in such cases remains in place regardless of whether the title is transferred and the home is sold, provided the property is sold in the customary manner between two parties.

"This is not the case, however, if the home is foreclosed upon and the property reverts back to the lien holder, such as a bank, mortgage company, governmental entity, homeowner's association, etc.

"That being said, you as the tenant, as well as the homeowner, have rights and obligations under the law (see Nevada Revised Statutes 118 and 118A). This means that cooperation between the parties is imperative to ensure everyone's rights are protected and a smooth transition can occur.

"In most cases, the owner and (his or her) professional property manager (a Realtor with a specialized state license for property management) address this scenario within the rental agreement.

"If not, Nevada law specifies that for the purposes of selling a property, the owner or lessor or their agent must provide proper written notification to the tenant at least 24 hours in advance. If the situation is handled properly, in accordance with Nevada law, the tenant must allow access to the property.

The best advice I can offer you is to work with the owner and (his or her) agent. Have a discussion with them and find out if they are willing to let you out of the remainder of your lease agreement term, if that's your wish.

"You can ask the owner to show the property only on specific days or times that are appropriate for you. Discuss a possible incentive, such as lowering the rental rate during the time they are showing the property to potential buyers.

Remember, for the best possible outcome in such situations, cooperation is key."

In addition to this advice from Rheinberger, you may also seek legal advice from a local lawyer or Nevada Legal Services.

You can also contact the Nevada Real Estate Division, which can provide information and explain state laws on such subjects.

Finally, I would strongly agree with Rheinberger's suggestion that you should try to work with your landlord before creating any kind of adversarial situation.

After all, this benefits everyone involved. No one -- not you, not the seller and not the potential buyer -- benefit from barging into someone's home at a bad time.

And no one wins if this leads to some sort of legal dispute.

I hope this helps you and anyone else in a similar situation.

Devin Reiss is the president of the Greater Las Vegas Association of Realtors. To ask Reiss a question, e-mail him at ask@glvar.org. All questions to Reiss may be shortened and are subject to editing.