When your apartment building is sold, your lease transfers to the new owner. The new landlord must honor your existing lease terms — they can't raise your rent, change the rules, or evict you just because they bought the building. For Section 8 tenants, the HAP contract also transfers, meaning the new owner must continue accepting your voucher through the end of your lease.
Your Lease Survives the Sale
This is the most important thing to know: your lease is a contract that's tied to the property, not to the person who owns it. When ownership transfers, the new landlord steps into the shoes of the old landlord. Every term, condition, and obligation in your lease carries over.
The new owner must honor: your rent amount through the lease term, your security deposit (they're now responsible for returning it), any promises or agreements in the lease, and the remaining lease duration.
What the New Owner Can Do
After your current lease expires, the new owner can offer a new lease with different terms — potentially higher rent, different rules, or no renewal. In month-to-month situations, they can give proper notice to change terms or end the tenancy.
Enforce existing lease terms. If you're violating your current lease, the new owner can take the same actions the old owner could have.
Sell again. The property can change hands multiple times and your lease still survives.
What the New Owner Cannot Do
Raise rent mid-lease. Your lease locks in the rent amount. They must wait until lease renewal.
Evict you to renovate (usually). In most states, buying a building doesn't give the owner the right to evict existing tenants without cause. Some states allow "owner move-in" evictions or substantial renovation evictions, but these have strict requirements.
Change your lease terms unilaterally. Any changes require your agreement or must wait until lease renewal.
Refuse to return your deposit. The new owner is responsible for your security deposit, even if the old owner didn't properly transfer it. This is the new owner's problem to sort out with the seller.
Special Rules for Section 8 Tenants
If you have a Section 8 voucher, the Housing Assistance Payment (HAP) contract between your PHA and the landlord transfers with the property. The new owner must accept the voucher payments through the end of the HAP contract (which typically aligns with your lease).
At renewal time, the new owner can choose not to renew the HAP contract — they can decide they no longer want to participate in the program. If this happens, you keep your voucher and can use it to find a new apartment. Your PHA should give you time to search.
Some new owners actually prefer Section 8 tenants because the rent payments are guaranteed by the government. Don't assume the worst — many sales result in no changes at all.
Rent-Controlled and Rent-Stabilized Apartments
If you live in a rent-controlled or rent-stabilized apartment, those protections survive the sale. The new owner must comply with the rent regulation laws regardless of what they paid for the building or what their business plan is.
If the New Owner Tries to Push You Out
Document everything. Aggressive behavior, threats, service disruptions, harassment — write it all down with dates and details.
Don't sign anything you don't understand. New owners sometimes offer buyouts or present documents that waive your rights. Have a lawyer review anything before signing.
Contact legal aid. If you're being pressured to leave, contact your local legal aid office. Many have tenant defense programs specifically for situations involving building sales.
Report to your PHA. If you're on Section 8 and the new owner is creating problems, inform your caseworker immediately.