sale with tenant in place

[fernfurn]

We are buying a house with the tenant in place who are happy to stay. Lease runs out in December but Agent has made settlement in November, so this leaves one month on old lease. We dont want the tenant to sign a new lease as we would like to shift in as soon as we sell our house. As we will be inhabiting the house ourselves we can give tenants 2 months notice. My question is: should we try and get the vendor to move settlement to Dec end of lease or write something in the contract whereby the rent shifts to us on settlement.

 

[jkat]

Once you settle the rent will be paid to you because you will be the new owners... You would need to get in contact with the PM and give them your contact information etc and let them know of your plan to occupy the place so they can give the correct notices to the tenants.

Or you can try and negotiate a different settlement date - but this would depend on whether or not you have already exchanged contracts.

 

[Peterw]

I would be more inclined not to inform the tenant that you wish to occupy, as they may choose to leave at the end of the lease, and you may then end up with a vacant property up until you sell and settle the sale of your property. Just allow the tenancy to roll into a periodic one.