Sitting Tenant Sale

[Ric.ror]

Would you or have you bought a property with a sitting tenant?

[woofgang]

no and no

[rockyracoon]

No
No
I think Smow has.

[ladybirder]

And didn't she have problems with him?

[Barmaid]

I havent done it, but might do depending on the type of tenancy and its history. I'd be inclined to ask for further details (and I mean details) before I would even consider it.

eg, a tenant holding over on an ast who is in work and has a good payment/communication history maybe a good buy. On the other hand, it could be that a landlord wants to offload a troublesome tenant who doesnt look after the place and has a problematic payment history and it may not be such a good deal.

[Ric.ror]

Thanks Barmaid
It appear it is a flat in a converted house - the seller owns the other 3 flats but these aren’t for sale

[Ric.ror]

https://www.property118.com/questions-ask-buying-tenanted-property/

These were the questions I intended to ask

[-SharonA-]

So you're just buying a flat?

[Ric.ror]

Details from RM

‘TENURE We understand that the property is leasehold. The freeholder is ?????Our vendor is a director of the company and own one third of the freehold. The lease is 125 years from 2006‘

[Ric.ror]

It’s a flat with a sitting tenant Sharon

[-SharonA-]

https://homelet.co.uk/tenants/blog/article/what-is-a-sitting-tenant-and-what-are-your-rights

[Baldric]

Kate and I own 6 rentals between us and I manage 2 for the girls. No way would any of us buy a property with a sitting tenant, we decide who our tenants will be, no one else.