Landlord selling up
Discussion
A friend had a one year tenancy that expired in August, as the landlord lives next door and they get on well the friend has stayed on with no new contract, paying the same rent and the landlord retains the original deposit.
The landlord is now selling up and the new owner wishes to keep on my friend as a tenant. As there would seem to be no contract what is the worst that can happen?
The landlord is now selling up and the new owner wishes to keep on my friend as a tenant. As there would seem to be no contract what is the worst that can happen?
OP,
Your friend needs to get in touch with the buyer to discuss arrangements. I would suggest that you look to having a new AST in place to sign up with them on the day of completion but in the meantime your friend needs to tell their landlord to instruct their solicitors to issue the sale contract as being subject to their tenancy, not with Vacant Possession.
The only sticky point will be the transfer of the deposit if the seller and the buyer are not using the same letting agent or any at all. If this is the case then the Seller needs to discuss with the buyer how they wish to deal with the transfer of the deposit and possibly involve your friend.
Your friend needs to get in touch with the buyer to discuss arrangements. I would suggest that you look to having a new AST in place to sign up with them on the day of completion but in the meantime your friend needs to tell their landlord to instruct their solicitors to issue the sale contract as being subject to their tenancy, not with Vacant Possession.
The only sticky point will be the transfer of the deposit if the seller and the buyer are not using the same letting agent or any at all. If this is the case then the Seller needs to discuss with the buyer how they wish to deal with the transfer of the deposit and possibly involve your friend.
Forums | Speed, Plod & the Law | Top of Page | What's New | My Stuff