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Yes when you are selling you only need to give 30 days but from my understanding the current owner needs to give the notice. As you don't own it you have no power over the tenants. That's my understanding anyway. I wanted to increase the rent with the existing tenants and was told I couldn't...

If you buy the property with existing tenancies (ie NOT vacant possession) you have to give 60 days notice WHEN you own the property. So you can't have them there for JUST a month after you own it (ie settlement).