Buying a property, what are the chances the tenant will move?
Posted: Thu, 29 Oct 2020 9:12 am
If you buy a property that's tenanted, what are the chances that the tenant will move? What's a fair compensation to the tenant?
It depends on the TA wording and remaining lease.
If TA does not address sale of property then you have to rely on the TA "cancellation" of lease terms. If there is none then you really need to think about offsetting the tenants costs to move and set up a new lease because the tenant can insist the lease remain in place and be transferred to the new owner.