Landlords? Tenants? Funding flooring

amother

Oak

Wed, Jun 15 2016, 9:45 pm

DS will be renting a house and needs hard surface flooring due to his children's allergies.

The landlord agrees to pay $5500 towards the flooring, and my son will pay $4500. (Carpeting would have cost the landlord less, let's say around $3500).

My son's question is what is fair to suggest in the contract if the landlord asks him to leave before a certain number of years? It seems that he should get something back, but he's not sure what to ask for.

In other words, he's investing all this money in order to have the use of the flooring for several years. Clearly he will not be pleased to be compelled to invest again in another house in a few years.

OTOH, the landlord is gaining a house with more value since these floors are more desirable. Or at last more expensive. (But, since the landlord insisted on hardwood, there's going to be the expense of upkeep... they would have been happy to do a good quality vinyl. Oh well.) But maybe people prefer carpet?

tweety1

Wed, Jun 15 2016, 9:55 pm

That's where a lease comes in. How long of a lease is he getting? By signing the lease he's agreeing to stay that amt of yrs and landlord can't kick him out before that amt of yrs either. That being said he doesn't get anything back.

amother

Oak

Wed, Jun 15 2016, 10:25 pm

I think the issue is that the landlord is not constrained from selling the property, at which point does the new owner have to honor the lease?

So he'd like to be compensated if the present owner sells, and he can propose some such clause in the lease. I am looking for suggestions what is a fair amount based on the costs.

amother

Oak

Thu, Jun 16 2016, 12:54 am

Thank you Fave. You are quite certain that if the landlord agrees to a five year lease, he must make it a condition of selling the house that the new owner must either honor the lease or pay some sort of buyout?

How does that work? How is the buyout amount specified? In the lease or it's negotiated at time of sale?

This would hold up in any beis din (or court, if it came to that)?

tweety1

Thu, Jun 16 2016, 4:40 am

amother wrote:

We very recently bought and our lawyer told us the same. If tenant has a lease we must honor it. Our lawyer didn't give us the other option cuz it turned out that bh nobody had a lease. But we knew before closing that if any of the tenants have a lease we must honor the lease and it's terms.