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Aston Lawyer
Aston Lawyer, Solicitor
Category: Property Law
Satisfied Customers: 10585
Experience:  LLB(HONS) 23 years of experience in dealing with Conveyancing and Property Law
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Hi there I recently bought a small flat with a sitting tenant.

Resolved Question:

Hi there I recently bought a small flat with a sitting tenant. I aim to keep the flat tenanted... it is on a buy-to-let mortgage.

The tenant's AST lease has finished and he is now a periodic tenant. It is a company lease.

I have received the deposit held by the previous landlord. The lessee company would like me to sign a new one-year lease. I don't want to do that at the same rent.

Can you clarify my status in this: Is the old lease still valid? Is the tenant status unaltered? Do I have any right to re-negotiate the rent and terms at this stage? And finally, if it all goes pear shaped am I able in the usual way to give the tenant notice under the act?

Thanks
Submitted: 3 years ago.
Category: Property Law
Expert:  Aston Lawyer replied 3 years ago.
Hello and thanks for using Just Answer.

I am Al and am happy to assist you with your enquiry.

The terms of the existing AST (including the amount of Rent) continue until either party serves Notice to end the agreement or a new AST is signed.

You are therefore entitled to try and get a new AST drawn up with a new higher rent. If the Tenant is not happy to pay an increased rent, then you either concede and get a new AST signed, or you are entitled to end the existing AST by giving the Tenant 2 months Notice.
Likewise, if no agreement can be reached on the Rent for the new AST, the Tenant could give you 1 month's Notice to terminate the existing AST.

I hope this sets out the legal position and answers your question.

Please let me know if you require any further clarification.

Kind Regards
AL
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