Jump to content

What to ask when looking at property already tenanted


Recommended Posts

Hi all  

Newbie here, I'm very excited to start my property journey and have identified area i want to buy in.  A number of the properties on  right move have tenants in situ, this seems ideal  - am I being naive?     What would you ask to see  if you were considering  buying a property already tenanted?  I'd be really greatful for pros and cons  and any other advice from  exerienced landlords.  Thank you   Jacquie

Link to post

Hi - never actually done this myself but I am about too!

Here is what i will be asking for...

  1. copy of current tenancy agreement
  2. proof that deposit has been correctly lodged
  3. proof that tenant in not in arrears 
  4. checking the contract to make sure there are no dodgy clauses in there that might affect me has the new landlord
  5. checking if any sort of guarantor is being used at present
  6. checking what rent is being charged against what should be being charged. If current rent very low and you want to increase the rent to market value....possible you might have tenant issues straight away

Hope this helps and best of luck.

Link to post

Viewing the property gives you an opportunity to see how the current tenant looks after it. Is it clean / damp / mouldy etc ?

Look behind things where you can to see if condensation is settling and forming mould; look closely at the bathroom - bath seal / shower seal - for signs of mould caused by tenant use.

Look in the oven if you can - and in corners and on skirting boards for dust. Are there pets - allowed or otherwise? Are the windows clean? Stains on carpets?

Does it smell - smoke / pets / mould? Are air fresheners being used to cover up anything? Check the outside space - is it being looked after?

This is possibly your only opportunity to assess how the tenant lives so go in knowing exactly what you want to check so you can have a good look - it is always slightly awkward looking around someones home when they are there but it could save you problems in the long run.

I would also ask the tenant who lives there (to compare with tanancy agreement) and what their plans are - if they are good tenants you want to keep this is your opportunity to reassure them they are not going to lose their home - so tell them your intentions and play their fears.

Good luck :) 

Link to post
  • 3 weeks later...

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...