In large cities, rental apartments are often converted into property. Affected tenants do not have to worry because the right of first refusal can help. Even if you need it yourself, you cannot always terminate the contract immediately.
If rental apartments are converted into property, affected tenants have a statutory right of first refusal. The old owner who wants to sell the apartment must offer the apartment to his tenants. According to the German Tenants’ Association (DMB), however, they do not have to decide immediately.
Tenants do not have to buy the apartment immediately
Instead, tenants can also wait until the owner has found a buyer for the apartment and has concluded a purchase contract with them. The tenants must be informed of this and the exact content. You can then buy for yourself within two months at the terms and conditions set out in the purchase contract and at the price negotiated there.
If the tenant has not exercised his right of first refusal and the apartment has been sold to a third party, the third party enters into the old lease and becomes the new landlord. Even if he bought the apartment to live there himself, he cannot immediately quit because of his own needs. He must adhere to the blackout periods.
According to the law, dismissals for personal use or commercial exploitation are excluded for three years. The federal states can extend this period of notice for cities with increased housing requirements up to ten years.
The right of first refusal does not always apply
The right of first refusal and the blackout periods apply only if the apartment was converted during the rental period. Is the tenant in one from the start Condominium pulled, he has no protection.