Wording of contract conditions - preventing re-letting of property

[pipsal]

Has anyone ever put in an offer 'subject to vacant posession/the property not being re-leased?' Any suggestions for wording to cover this?

Property I'm looking to put an offer in on is also listed for Rent, at about $40/wk LOWER than market rent - more than 10% below. The complex managers don't have the listing but they have tenants waiting to rent for the higher price. The agency listing it said rent is low because of the fact it is for sale and the hassle of that for tenants.

I'm not keen on putting in an offer and getting it, and then finding out that the Rentals office have approved a new 12 month lease at the low rate, as if the tenants stay on the rent will be behind for a while unless they are hit with a significant increase!

 

[andrew_de_a]

The contract should state if you are getting vacant possession or taking on a lease.

 

[Terry_w]

In NSW this is incorporated into the standard contract.

 

[S.T]

In the greater scheme of things that's only 52 x $40 = 2080 (or less if they're in their a month or two prior to settlement), so keep that in mind.

 

[Scott No Mates]

As Terry alluded to it, in NSW it a requirement to disclose any impending sale to prospective tenants.

 

[pipsal]

Thanks for the replies.

This is in Qld, not sure if it is standard in contract here or not, been a while since I read one. I really wanted to know what to put for the letter of offer to make sure they put a hold on renting it if my offer looks like it will be accepted.

The property is currently vacant, but the rental listing does state that the property is for sale so that prospective tenants are aware it is being sold. It's not a huge amount of rent over a year, but could be playing catch up for a while if tenants stay on past a year. Would especially prefer to approve my own tenants though, rather than have them put whoever they like in because it is being sold and won't be their problem!

 

[Perp]

It is a standard provision in the Queensland contract. You simply make your offer "subject to vacant possession".

 

[Terry_w]

Just say you are offering $x subject to vacant possession.