Purchase of property with existing tenancy.
We are in the process of purchasing a property with existing tenants. They are students with 9 months left on AST. Would it be best to get the whole lease assigned with the sale ie on completion, or arrange to complete a new AST finishing on the same date. Would this also mean arranging the renewal of the guarantors?
The AST has been drawn up by an estate agents I do not use agents, and have no wish to follow on with a contractual arrangement signed by a previous owner. What are my best option, is there a process to follow to transfer an AST?
I look forward to receiving your advice.
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