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kiddtom

Buying a house with a tenant currently in

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Hi all,

I'm about to buy a house with a tenant currently living there. He is paying no where near market rates as his mate owns the house. 
I have said that I would be happy for him to stay but that we would have to go onto a rolling 6 month contract and he would have to pay the going rate.

I haven't heard anything back yet, but the current owner has suggested his tenant wouldn't be able to afford the going rate.

I don't think the tenant is currently contracted either so I was wondering if anyone had any advice on what the process should be?

Tom

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Hi kid,

First thing is to ensure that the tenant is staying there under an AST.

If you are not sure what an AST is 

https://england.shelter.org.uk/housing_advice/private_renting/assured_shorthold_tenancies_with_private_landlords

Gives ^^ you an an idea.

If on an AST even with no paperwork, you serve tenant section 48 notice upon completion, then if you wish, normal eviction processes can start.

https://landlordadvice.co.uk/?https://landlordadvice.co.uk/&gclid=CjwKCAiAwZTuBRAYEiwAcr67OV6urT5LNUu3Rg3jGqCKs_XJzazFepJ39buW4uZMNoo3pUceTGO0phoCI5AQAvD_BwE

Speak to these guys ^^ or other solicitors that deal only in tenant/landlord issues, notices and evictions.

Nothing to worry yourself over...happens everyday.

Hope this helps

Conrad


Conrad Paton

+44 7957 959851

conradpaton@yahoo.co.uk

https://www.linkedin.com/in/conrad-paton-424446110

 

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Hi kiddtom

Best bet would be to go through your solicitor and get them to check if the tenant is on a AST.  If they're on one, then you'll need to check the terms and when it's due to expire to enable you to get them to sign up to a new one at market rates.

If they're not, then they may need to vacate when the keys are handed over as they may be considered just a lodger within their mate's house under the rent-a-room scheme. If they want to stay, then I suggest getting all new paperwork, referencing etc. done. 

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