Selling rental and leaving tenant in situ

T

thos

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Hi all,
I may be selling a rental property and new owner is looking to keep the current tenant and lease arrangement in situ.

Any issues in doing this? Anything to watch out for?

Tom
 
Any comments or suggestions?

I'd rather not discuss with the management agent until I've got a clearer idea on things.
 
I cannot think of ant issues that arise from the sellers point of view. What does your solicitor think.
 
Thanks. Off book discussion so far, solicitors next, so will take it from there, cheers.
 
There are no tax issues.
The new landlord would be tied in to the existing lease.
But the new rules means that he can't increase the rent any more than you could have done.



Does the landlord know the tenant? You would need to make sure that the rent account is bang up to date.
You will need to do an adjustment on closing for the deposit and any rent prepaid.

Brendan
 
Has he discussed it with his solicitor ? I would expect the solicitor to advise against and ask for vacant possession.
 
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