Qld tenancy question please.

[csc]

We have just sold our own property and i have come across a top buy in the market to tie us over very cheap until we decide if we will build or rebuy an established home.

question: The property is currently rented and has been to the on tenant for 10 years.....lease is due to be renewed in march........

Standard conditions apply to have tenant removed after the sale???

Id feel pretty bad doing this but really no choice if we purchase..
Any advice appreciated.

Cheers

 

[MissMuffitt]

Is there any reason you could not ask for "Vacant Possession"

Are you going to move into this property? or is it for investment?

I am sure that if you are going to make it your PPoR that you should be able to give the tenant notice and they will have to move...

Or should I say the present owner would have to give them notice.

Am I right??

 

[csc]

- yep we will move into it to szave renting ourselves, may as well i think as the property is approx 70k undervalued as i type..its only a base price house to boot @ $270k but super tidy and definitely worth towards the mid 4300k in the current market.

- lease concludes right at the end of march so it will be borderline if the current owner or us will have to request to vacate.

the issue i have it that rentals are super tight in my city currently..pop 70000 people and on the nothside where i am there are only 12 properties available today for rent, nothing decent under 4350 bucks a week.

the current landloard of the property we are wanting to purchase has really looked after the tenant...he could easily get $350 week for it but is only charging them $200 bucks a week....

I heard somewhere a tenant has some rights regarding removal if they cannot find a suitable property...not sure though on this issue....

i will call the tenancy board tomorrow and ask for written clarification on the issue as to what rights a tenant actually has in this case.

they would be ideal tenants if i was going to rent it out but family first, tenants second..

thanks for the feedback to date...

 

[wylie]

The current owner needs to give appropriate and timely notice that the lease will not be renewed. Timing of the notice is imperative. RTA will help you with this if you are planning on calling them tomorrow.