Hi all.
I'm taking over a property soon. My first investment property. Vendor has given 42 days notice to current tenants. Now, i would like to settle before the 42 weeks notice.
What are the pros and cons of doing this?
I want the current tenants to stay as long as they want. Vendor said tenants have been living there for the past 10 years and paid on time. I want to increase the rent just to make it around the current rental price. This will trigger a 10% increase on their weekly rent.
Also, if tenancy with me starts on the settlement date, will that be legally possible even if 42 days notice isn't up yet?
Cheers.
I'm taking over a property soon. My first investment property. Vendor has given 42 days notice to current tenants. Now, i would like to settle before the 42 weeks notice.
What are the pros and cons of doing this?
I want the current tenants to stay as long as they want. Vendor said tenants have been living there for the past 10 years and paid on time. I want to increase the rent just to make it around the current rental price. This will trigger a 10% increase on their weekly rent.
Also, if tenancy with me starts on the settlement date, will that be legally possible even if 42 days notice isn't up yet?
Cheers.
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