We are looking at purchasing a property as our family home. The property is currently rented out on a fixed term contract (all good), with the right of renewal (not so good), presumably when the current term ends. I am going to speak with the real estate agent later today, just wondering what I should find out from the agent? Basically we need to know if we are able to move into the property any time soon. Questions that come to mind at the moment are:
Thanks!
- when do the tenants need to give notice showing their intention to renew, e.g. 1 month before the term ends
- what exactly are in the right to renew contract, e.g. 2 rights of renewal for 1 year each
Thanks!
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