Buyout offers after an accommodation dispute
Answers
Sometimes a good deal, and never one to accept in the week it arrives.
Why the offer is being made
Usually because the provider has worked out that their position is weak, or because the tenancy is worth more to them empty. Both are reasons to slow down. An offer arriving shortly after an accommodation dispute is a signal about how the provider rates their own case.
What you would usually be signing away
- The tenancy, obviously, and any below-market rent or regulated status attached to it.
- Any fair housing claim, because these agreements almost always include a general release.
- Any deposit dispute, and sometimes claims you did not know you had.
- Occasionally your ability to talk about it, through a confidentiality clause.
That release is the part to focus on. A fair housing claim carries actual damages, emotional distress damages, possible punitive damages and attorney fees. Signing it away for a month of rent is a bad trade, and it is a trade most people do not realise they are making.
What to do
- Do not sign anything at the door or in the first week.
- Ask for the full written agreement, including every release clause.
- Take advice. A consultation costs little and the fee-shifting provision is what makes representation findable in these cases.
- Work out what moving actually costs, including deposits, and what the tenancy is worth over its remaining term.
- Negotiate. First offers in this area are rarely final, and a provider who has offered once has told you something.
Common questions
- Is accepting an admission that I was wrong?
- No. These agreements normally state expressly that nothing is admitted by either side. The problem is not the admission; it is the release.