The strong real estate market has been good to a lot of people, but renters may be one of the few exceptions. Across the country, many are being forced to move -- sometimes with little warning -- as developers convert their rental units to condominiums.
If you're in this situation, you don't need to be told how scary it can be -- but you do have some protections. The specific laws will vary by city and state, but you could be entitled to relocation assistance or a few more weeks to pack your bags.
In all cases, landlords must provide written notice of their intent to convert the building to condominiums. This gives you a little time to pursue the following steps to make sure your rights are met:
1. Check your lease: Renters with long-term leases will be able to stay in their apartment for the full term of the lease. Month-to-month renters' situation varies greatly by state: As 53-year-old Marjorie Freeman found out, Florida renters with month-to-month leases only get 30 days by law. But month-to-month renters in Washington are entitled to 90 days.
2. If you want to stay, try to negotiate a rental extension with your landlord. But remember to get the term and the rate in writing.
3. Consider buying: Known as "right of first refusal," landlords are required by law in some states (like California) to give you first crack at buying your unit at a fair market price. Check state and local laws if your landlord doesn't offer you the chance. Then determine if buying makes sense for you.
Read: When your landlord sells you out
4. Find out if you're entitled to relocation assistance: Cities such as Seattle, San Diego and San Francisco provide such assistance. Often, this is restricted to low-income renters, but it's worth checking on: Under a new ordinance in Biddeford, Maine, renters forced to leave their unit as a result of a conversion are entitled to two months' rent.
5. Define "move-out condition": Before you move out, be clear on what move-out condition is. Landlords can't deduct money from your deposit for routine wear and tear. But they can charge you if you don't clean your place before leaving.
6. Treated unfairly? Fight back: Whether you're being inconvenienced by construction or your landlord is threatening to withhold part of your deposit for normal wear and tear, it's best to try first working things out with your landlord. Just be sure to use certified letters to document your efforts. In some states, you can withhold rent when renovations deny you basic services such as electricity and running water -- so long as you place the money in an escrow account and notify the landlord in writing of your intent to do so. If you still don't get anywhere, take them to small claims court or hire a real estate lawyer.
