I’ve had an emails from Landlords and Tenants on this subject and it can be a worry for a tenant thinking they are losing their home, so here are a few pointers:
LANDLORDS – the tenancy agreement in place remains legally binding, however, the Landlord and Tenant Act states the tenants need to be notified the name of the new landlord. There is no official notice or Landlords do not need a new agreement. The agreement in place is the agreement the tenant has signed up to and remains in force.
TENANTS – Selling a property does not end a tenancy. The agreement you originally signed up to, is the one that remains in force. Most Landlords will buy a property with a tenant in situ, as it is a bonus and is great for Landlords and great for Tenants. Sometimes, new Landlords may look to increase the rent and can do so following the correct procedures. Communication is key and I would advise to keep in contact with the Estate Agent or the Landlord directly to keep you informed.
Its very common and in the most part, rarely there are problems.
For a FREE valuation for sales or lettings, contact CLIFFTONS Tel: 01202 789699.
Posted: 5th July 2019