Are you purchasing investment property?It's important to understand what your obligations are in relation to the existing tenancy agreement. Along with benefits of buying a tenanted property, there are responsibilities and potential downside.
Remember that upon buying a property with existing tenancy agreement, you will likely be required to adhere to the terms and conditions of the agreement. You could possibly end the agreement if the tenant agrees and it's obviously important to speak to the managing agent to discuss your specific scenario whether you want to continue with the existing tenant or get new tenants or maybe move into the property yourself.
Being a landlord page on the Office of State Revenue NSW website provides useful information.
Starting a tenancy page on the Office of State Revenue NSW website has several links that link to pages such as
- using a managing agent
- completing a tenancy agreement
- taking a bond and ending a tenancy
Also, please consider the following pages:
- Being a landlord
- Ending a tenancy
- Making a bond claim
- Goods left behind by your tenant
- Your rights during the tenancy
