First time landlord : Buying a council tenanted propertyMake Text Bigger
I am first time landlord looking to buy freehold property around Luton. The property is currently rented to young lady (aged 25-30) with her 2 children aged below 10. As far as I am aware, she is on council benefit but the property is rented on basis of periodic tenancy.
So far I’ve managed to gather following information; 3 tenants changeovers in last 7 years, current tenant living there from 15th June 2013, rent is paid by housing benefit so can be slightly behind due to method of payment (every 4 weeks against PCM but I was made aware that its up to date now), deposit is with TDS, type of tenancy is Periodic Tenancy.
Could someone suggest what other information will I require before going ahead with this property?
Current landlord wants to sell this property tenanted only so will it be easy for me to replace the tenants by serving her 2 months’ notice (as per tenancy agreement) once I have keys of the property.
As mentioned this is my first BTL property so apologies if I am asking very basic questions.
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