tenants insitu

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  • tenants insitu

    i am looking to buy 3 new build properties which are up for sale with AST tenants insitu (thru a letting agent), on a new development

    when i purchase it i would like to retain the tenant, but i want to try to manage it myself, as i have been studying property management for a while and want to have a go.

    would it be quite easy to transfer the tenant so i become the agent/landlord, i don't think the letting agent is going to like it too much and might make things difficult.

    i can buy some vacant properties on the same development, but these tenanted ones come with carpets.

    any suggestions would be gratefully received...

  • #2
    The tenant and the landlord have an agreement which you will essentially inherit if you buy the properties, so they will become your tenants and both you and they are bound by the existing agreement.

    The current landlord has an agreement with a letting agent. That is between him and the letting agent. He cannot transfer his obligations to you without your agreement. The terms of that agreement may oblige the current landlord to compensate the agent in some way, but it does not oblige you to do anything.
    NOTE: Steven Palmer BSc (Hons) MRICS MBEng is an official LandlordZONE Topic Expert and a Director of Davisons Palmer Lim Any advice given by Steven in this Forum is of a general nature only and should not be acted upon without first obtaining advice specific to your problem/situation from a professional.

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