[teach1234]

I was a little too smug about the great rental deal I found. So the great landlord in the sky sent me a letter, through a local mortgage assistance office, that this house will be sold at auction in a couple weeks. Hahahaha! The real Vegas experience! I called Clark County Recorder's Office (yes, I know I should have done this first, but there is no teacher like experience) and they confirmed the house is due to be auctioned off. (I take it the house is in foreclosure right now, but my understanding of the terms is a little vague). I contacted the Nevada Rental Assistance (or words to that effect) Office. I searched the archives here but still have a couple questions. My rent is paid thru the end of October although I paid it to a person who is no longer the owner of the house, if someone buys the house, how long before they can demand rent from me?

NRA also told me if I disagree with the rent I can file a tenant form for a court hearing--one of the reasons I am paying 1,000 a month unlike the 1200-1600 a month my neighbors pay is that the property was trashed by the previous renters and I cleaned it up in exchange for cheaper rent (also, the HOA was due to start charging 50$ a day, so the new owner won't have to pay those penalties, as the HOA attaches these fees to the property title--is that correct?) Will these improvements and cleaning I did have any bearing on a fair market value rental hearing? I do have documentation in the form of photos and the HOA posted notice.

Thanks for any advice or additional strategic tips you can offer.

On the flip side, the day after receiving the auction notice, I found an auto repair shop for less than .51 cents a square foot. So I still love it here.

[olecapt]

Tony S will probably jump all over this but this is the new law in NV.

Tenants that actually occupy the foreclosed
residential property are also given additional
protection after foreclosure is completed. After
acquiring a residential property at the trustee’s sale,
the purchaser must provide notice of the change in
ownership to any tenant or subtenant who remains
in possession whose name is not on the deed of trust
or was not an owner of the property before the
trustee’s sale. This notice informs the holdover
tenant of his right to continue the terms of his prior
lease for not less 60 days (or, for leases with periods
less than one month, not less than the number of
days in that period). During this period, both the
new owner and the existing tenant are bound by the
terms of the prior lease so long as the tenant
remains in possession, unless the parties agree
otherwise. The new owner also has the option of
offering payment to the holdover tenant in exchange
for vacating the premises prior to the expiration of
the occupancy period.

Note that the new owner can offer key money. You situation sounds screwed up enough that you would be a sure thing for the 60 days...maybe more depending on when the actual foreclosure occurs...they often do not occur as scheduled. Keep anything you got in writing and cancelled checks etc. You will need them. The lenders are still feeling their way through all this so they may be rational.