14:07 PM, 1st September 2015, About 7 years ago 4
I have chance of purchasing a reasonable property via an auction.The problem is that the tenant has been living there for many years and is on a regulated tenancy. I’m not sure how long this tenancy has been in place or the details about it. The rent is £3000 a year which is about 50% market rate for the house.
Is there a way of buying the house and then increasing the rent or what are the rules about evicting the tenant? I could let the tenant stay but the rent would need to increase. Could this end up being a hot potato or can there be a way forward?
Any advice will be greatly received.
P.S this is in England if that makes a difference to tenancy laws.
A Google search on the word regulated tenancy and found a PDF explanation document produced by “Communities and Local Government which you may find useful – see >>> http://www.communities.gov.uk/documents/housing/pdf/138295.pdf