Q. I’m purchasing a buy to let investment that already has a tenant in occupation. I was more than happy to keep the existing tenant, only issue is he is paying well below market value in rent, I have discussed this with him and said that I am willing to continue the tenancy if he is prepared to pay the going rate now the market has now recovered somewhat. Sadly he has declined, expressing he will not be prepared to increase, so obviously I have asked the vendors to serve formal notice on him. I understand he has 2 months notice but I’m not willing to wait that long as its not a great time for the unit to be vacant at that particular time as its holiday season and I might struggle to rent it then. Is there anything I can do to get him to vacate sooner?
A. Unfortunately, there isn’t much that you can do if he has an Assured Shorthold Tenancy as legally he is entitled to 2 months notice to vacate the property. In most cases however once a tenant knows they have to vacate they do tend to start looking and if they find somewhere sooner the seller is usually happy to release them earlier in order to obtain vacant possession for ease of sale. In some cases where sellers are keen not to lose a buyer or jeopardise their sale I have heard of tenants being compensated financially to leave, this often is enough to encourage a tenant to leave earlier so it’s worth exploring how keen the sellers are as this may be the best solution in your case. Another resolution to prevent a void period is that once you have exchanged you could ask the sellers permission to have access for agents to show the property so that you are able to secure a new tenant prior to completion therefore having a quick turnaround.