When a person who owns rental property dies, their loved ones will have an extra obligation. The renters will continue to pay rent on time and follow the conditions of the stated agreement. Unfortunately unusual for a tenant to stop paying rent or leave without legal notice. In this circumstance, you should contact an attorney immediately to protect your rights. It's required to avoid having a tenant who does not pay rent.
How Landlord's Death might affect the tenancy?
Tenancies end when either the landlord or the tenant provides notice, or the lease ends. Additionally, the death of a landlord is one of many unusual situations that might result in to end of a tenancy.
Everyone inheriting from a dead landlord or tenant has the same rights and duties.
What Happens If a tenant or a rental provider Dies?
The rental agreement does not immediately end if a rental provider dies. The rental provider's representative takes the provider's rights and obligations. This implies that they must abide by the law and carry out the terms of the rental agreement.
Whether there was one rental provider or many, the bond claim or transfer process differs.
If a sole rental provider has died
The RTBA will need the following documentation to release or transfer the Bond:
- Bond signed by renters and the rental provider's representative.
- Proof of death. A formal death certificate and probate or letters of administration. Signatures of the renters and the rental provider's representative.
- A formal declaration by the representative of the rental provider. Who signed the bond claim or transfer form must sign the Statutory declaration.
If a joint rental provider dies
If a rental provider dies, the remaining rental provider handles the Bond.
In order to release or transfer the Bond, the RTBA must-see:
- A bond signed by renters and a rental provider's representative.
- Probate letters of administration are all acceptable evidence of death.
Conclusion
Do you need help with the management of a rental property? It is possible to end a tenant's tenancy by petitioning the Court of Protection. Visit Illume Property Partners to learn more about rental properties.