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Question Title: New Landlord
| Question: 20 |
| I have a client who is considering buying a property for investment where a tenancy is already in existence. He is quite happy for the tenants to remain, but is worried that they will have increased security of tenure if he buys it whilst they are living there. Should he ensure that they have left before he completes on the purchase? The tenants have an assured shorthold tenancy agreement that has eight months left to run.
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| Answer: |
| The Landlord and Tenant Act 1985 requires that a tenant is notified of their new landlord in writing not later than the next rent day or at the end of two months, whichever is soonest. The responsibility of informing the tenants falls to the new landlord. Responsibility for breaches of any covenants, conditions or agreements remains with the old landlord until notice is given. Failure to comply with this requirement without reasonable excuse is a criminal offence and can result in a fine of up to £2500. The tenants will have no greater security of tenure.
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References:
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Pages:
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Hyperlinks:
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Letting Handbook |
Chapter 4 |
letting-handbook-and-factsheets.html
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For more information, discuss on the Forum
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