"BEST Customer Service in Conveyancing" Award Winner for 2022 & 2023 (Word Of Mouth)

Talk to a Lawyer
1800 532 326
Call & Talk To A Lawyer (FREE consult)
1800 532 326

What happens if there is a tenant living in the property that I’m purchasing?

Purchasing to live in

If you are purchasing for the purpose of moving in, then you’ll need to work out what the lease term is and when it is going to end. A tenancy will not automatically come to an end at the lease term, notice will need to be served on the tenant for them to vacate. If you are looking to move in as soon as settlement has taken place, then you will need to negotiate a term in the contract that requires the seller to issue the notice to vacate on the tenant for you. Your conveyancing lawyer can help you draft the required special condition into the contract.

Purchasing as an investment property

If you are purchasing for the purpose of investment, then you’ll need to discuss with the property manager to understand the financial position of the property. You could look into the length of the tenancy and negotiate for the seller to renew the lease agreement for you prior to signing to secure your mortgage repayment for the first year. You could look into the intentions of the tenant to see if they have an intention to reside in the property long term or if they are about to move out.

If the tenant is looking to terminate the lease prior to settlement, then you may negotiate with the seller to allow for open for inspection clauses in the contract, so that you can bring forward the timing in your search for a suitable tenant. You cannot sign a lease with the tenant until you become the owner of the property, or you will have to involve the seller in the lease signing on your behalf. Speak with your conveyancing lawyer to understand your unique circumstances so that you can receive appropriate advice in relation to same.

Get Your Quote Now
Enter Your Details Below and We’ll Calculate Your Conveyancing Fees in 30 seconds
Contract Review
drafting
Contract Drafting
Buying Conveyancing
Selling Conveyancing
Transferring Property
SSL Green Logo
SSL Security & Privacy Assured

Lead Legal Services Pty Ltd (ABN 86 640 514 558)
Proud to be a registered conveyancing law firm.

Member of Queensland Law SocietyPEXA Members Badge

Our Recent Reviews

Judith Williams Avatar
Judith Williams
23 Nov 2023
Great company to deal with during my purchase, Erica Gruen (who was my paralegal) especially. Erica made the process easy to understand and answered all my questions (of which, there were many!).
read more
Fate Avatar
Fate
15 Nov 2023
Happy with the service, although it wasn't always straight forward. Everything ok in the end - and that's what's important.
read more
Chiran Attanayaka Avatar
Chiran Attanayaka
15 Nov 2023
Very professional service, every time my solicitor went on leave the other one emailed me and took over the file, kept sending important reminders, continuously followed up with the sellers solicitor, bank etc. Great friendly service.
read more
See More
lead conveyancing logo footer
Brisbane
Suite 5, Level 18, 324 Queen Street, Brisbane QLD 4000 Australia
Melbourne
Level 2, Suite 9, 454 Collins St, Melbourne VIC 3000, Australia
Sydney
Level 36, Governor Phillip Tower, 1 Farrer Pl, Sydney NSW 2000, Australia

Liability limited by a scheme approved under Professional Standards Legislation