If a housing company or the Housing Executive assigns you a home, you will be asked to sign a lease before you move in. The agreement explains what the landlords and tenants agree to while the lease exists. The lessor must accept the transfer (assignment) of the lease agreement, unless there is a significant reason for refusal. If a tenant wants to leave and has found someone to take care of the remaining term of their lease, they can transfer the lease to the new tenant. A tenant cannot transfer the lease without the written agreement of the lessor (assign). Many of us live in rental housing and real estate investments are often made specifically for rental purposes. But what will happen to the lease if the owner changes ownership? What should the tenant, the seller of the property and the buyer of the property know? In this article, we discuss these issues relating to Estonian legislation. If you had a fixed-term rental agreement and the new owner of the property had the right to terminate it on the basis of the above specifications, the previous owner is responsible for any inconvenience caused to the tenant by the termination of the rental agreement. Let`s say you rented a two-room apartment in the city center and you had a three-year lease that would last another two years. However, if the price of rental housing has increased in the meantime or if a former owner of your apartment was just a good person who rented the apartment for less than the market price, you can claim the difference in rent. For example, if you paid €300 per month for an apartment but now find a similar apartment for €400 per month, the previous owner of the property must pay you the difference of €100 for the duration of your lease – that is, if your lease had lasted two more years (24 months), the previous owner will have to reimburse you €24×100. or 2400 €.
Of course, the disadvantage for the tenant should not be limited to the difference in rent – costs may include moving expenses, etc. Riccardo is also transferring his share of the loan deposited with the Residential Tenancies Bond Authority in Mel`s name.