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Agreed rental but just noticed it's up for Auction
derobe
Posts: 106 Forumite
Hi I've just agreed to rent a property but have now noticed that it's up for auction. Also I've noticed it's £100 more a month then the previous tenants were paying. Anything I should be concerned about here, if they sell would that mean I'd need to leave or could the new landlord try and put the rent up even more.
Also it needs a clean and painting, but can't seem to get any guarantee before I move in... with it being up for auction, guessing this won't be done!! Just putting this out there to see if these are real warning signs to avoid before I move in... wish I'd negotiated more on the rent although there still could be time!
Also it needs a clean and painting, but can't seem to get any guarantee before I move in... with it being up for auction, guessing this won't be done!! Just putting this out there to see if these are real warning signs to avoid before I move in... wish I'd negotiated more on the rent although there still could be time!
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Comments
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Does the auction listing say it comes with a tenant?2
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derobe said:Hi I've just agreed to rent a property but have now noticed that it's up for auction. Also I've noticed it's £100 more a month then the previous tenants were paying. Anything I should be concerned about here, if they sell would that mean I'd need to leave or could the new landlord try and put the rent up even more.
Also it needs a clean and painting, but can't seem to get any guarantee before I move in... with it being up for auction, guessing this won't be done!! Just putting this out there to see if these are real warning signs to avoid before I move in... wish I'd negotiated more on the rent although there still could be time!
If you've signed say a year's contract and it says the rent is reviewed annually or whatever (obviously, we can't see what's in the contract), then you have a contract and no-one can make you move (well, if the house was repossessed, I suppose that might be different, but it sounds like it's not relevant here)
Whoever buys it knows they're buying a tenanted property.
In terms of being £100 more a month, it may be because there's a lack of stock, the Landlord knows they can get more. It could be because the Landlord wants to show a potential buyer that there's a decent return.
It could just be that the previous tenants weren't paying the market value.1 -
Rents have been on an upward curve for some time now.0
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