Sale of rented property
I hope this email finds you well in France. Quick scetch of scenario:
we have managed a property for the last 4 years. Landlord has now decided to sell ( current tenancy only due to expire 04.10.11)The purchaser and current Tenants have come to an agreement ( although base has been kept in the dark about this) and the sale is progressing (again sale didn't come through this office so no idea on status).
The buyer's solicitor has now brought following issue to us: the AST contains a clause that reads
2. This Agreement may be extended for a further period of One Year from 05th October 2011 to 4th August 2012 upon the Tenant giving to the Landlord or the Agent not less than two (2) month’s written notice prior to the expiration of the Tenancy such notice to be sent by first class post or hand delivered to the Landlord or the Agent and in this event the Tenancy shall be extended at a Rent equivalent to the Rent payable herein increased by the Retail Price Index but at a minimum of 4% and a maximum of 10% and otherwise upon the same terms and conditions provided herein save for this Clause.
We did obtain a signed section 21 from the tenants though that states that the signed contract expires on 04.10.11. Please advise whether a. the tenant can surrender the tenancy voluntarily, b. the extension clause would be irrelevant if a voluntary surrender took place?
I will await to hear from you, have a great day, An at base
Want to read more?
This is a members only forum, if you want to read more you need to login to your membership, if you are not a member, click here to join.