My Landlord is selling, and wants to raise rent

[Yannick W.]

Hello

I'm currently in a position where I have signed a 6-month fixed term lease, paying $800 per month (effective January 1 2016) - with a three-month termination notice clause. My landlord is interested in selling the property, and the prospective buyer wants to raise the rent to $1000 (which is fair market value), and my current landlord wants to know if I would agree to the rent-raise for the remainder of the lease, in order for the sale to complete.

My landlord is concerned that the sale will not close if I don't agree to the rent raise; however, in the interest of fairness - I did sign the lease with the legitimate expectation of paying $800 per month for 6 months. I am also wary that the landlord is a family friend, and I don't particularly want to sour relations, in the event that I decline and the sale doesn't close.

Any advice would be appreciated.