Purchasing residential home, but has tenants not affected

brian

Frequent Poster
Messages
41
Hi,

I am considering purchasing a house to use as my primary residence. the property is currently rented with tenants not effected notice.
Can the sale force the termination of the rental agreement in such circumstance,

Thanks in advance,

Brian
 

Leo

Moderator
Messages
10,420
You have to ask why they are selling with 'tenants not effected'. The vendor would get a better price if they sold without tenants in place, so the fact they are not should be a cause for concern. You say house so I'm assuming the multi-unit sales within a single development requirement does not apply.
 

brian

Frequent Poster
Messages
41
thanks for reply Leo.
Its a a house in Pre '64 units.

As you point out, the seller would prefer to not have the tenants not affected condition. There is no break out clause in existing rental contract. That contract ends in 2020 Q3.

The question is does that only apply if new owner will continue to rent property, or does it also apply if new owner intends to use as primary residence (and has to wait until natural end of pre sale rental contract),

thanks again,

Brian
 

Sol28

Frequent Poster
Messages
187
I was renting a house where the landlord went into receivership. The receivers put the house up for auction with the "Tenants not affected" notice. But as soon as the sale was done I was given my notice as per minumum period based on my tenancy (4 months). The owners definitely got a good deal in the sales price compared to the average prices on the road around that time. They just couldn't move in with me there for a while! (not that it stopped them trying to pull a couple of fast ones on me!)
 
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