Notice on Fixed Tenancy if you want to move in?

[propertybuyingNZ]

Hey,

I am looking to buy a tenanted place on a fixed tenancy runs till next year.
Can I give the usual 42 days notice if I wanted to move in to the place? even if the tenancy is fixed?

Cheers
Pete

[Momo]

Nope. You can't. the tenancies can only be changed if the landlord and all the tenants (everyone named on the tenancy agreement) agree. So if either party wants to end the fixed-term early, they can approach the others to see if they’ll agree. Any agreement should be in writing, clearly stating what’s been agreed to, and each party should keep a copy.

[flyernzl]

If you are buying, make your offer subject to vacant possession.

Then its up to the vendor, if they accept your offer, to work out a way to remove the tenant.
(They could try bribery, that sometimes works).

[Keys]

Good that you asked first. Negotiate the price as hard as you can as you don't want an investment property.

[Nick G]

This is because you want 20% LVR right?

Make it the vendor's problem :-)

[propertybuyingNZ]

Well, Yeah, actually was thinking moving into it, but seems the whole deal is very dodgy, agent as well.
The guy signed up the tenants a month ago and now selling, tenants are really difficult (not providing access), the vendor bought a place less than a year ago, now wants $200k+ more for it without even doing a basic reno, prices did not go up that much in that area,
Pointed out to the agent, she acted surprised that she had no clue the guy only bought a year ago, suddenly became less helpful and not even sending tenancy and any other documents to check out. Might just leave it for 6 months, its not gonna sell, tenants probably smoking Pi in the house on top of all these things. I actually doubt they pay rent.

[Wayne]

Well, Yeah, actually was thinking moving into it, but seems the whole deal is very dodgy, agent as well.
The guy signed up the tenants a month ago and now selling, tenants are really difficult (not providing access), the vendor bought a place less than a year ago, now wants $200k+ more for it without even doing a basic reno, prices did not go up that much in that area,
Pointed out to the agent, she acted surprised that she had no clue the guy only bought a year ago, suddenly became less helpful and not even sending tenancy and any other documents to check out. Might just leave it for 6 months, its not gonna sell, tenants probably smoking Pi in the house on top of all these things. I actually doubt they pay rent.

If all of this is true, and the market doesn't accept it, then it won't sell!
I'd leave it for a while and see where it goes.
Maybe make an offer for what you think it is worth and then do the same every few months.

[Perry]

Interesting reaction form the REA.