Buying a House With Tenants: How Not to Get Caught Out

In short: When you buy a tenanted home, you take on the existing tenancy and its problems. Find out the tenancy type: regulated Rent Act tenants have lifetime security and fair rents, while assured periodic tenants can be removed only on statutory grounds. Ask for the tenancy agreement, rent history and arrears, deposit protection details, any licence required, and gas, electrical and EPC certificates. Ask the seller to warrant the information in the contract. Fraser Bond can value, check and take over management.