I've agreed to buy a house with tenants in place. They have significant arrears on their account with the existing landlord which the tenant is paying off monthly, in addition to the usual rent. I'm OK with this, the landlord will keep these debts leaving me with a clean slate, so to speak.
However: there is a 6 week rent deposit in place, protected. Would I be right in thinking that this deposit 'belongs' to the tenancy agreement rather than the existing landlord? In other words, I don't think the existing landlord can take this deposit and use it against his rent arrears; leaving no deposit in place.
I'll probably run this by my conveyancing solicitor but thought I'd run it here first.
Any thoughts?
However: there is a 6 week rent deposit in place, protected. Would I be right in thinking that this deposit 'belongs' to the tenancy agreement rather than the existing landlord? In other words, I don't think the existing landlord can take this deposit and use it against his rent arrears; leaving no deposit in place.
I'll probably run this by my conveyancing solicitor but thought I'd run it here first.
Any thoughts?
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