Do Sitting Tenants Require A New Tenancy Agreement?
No, sitting tenants do not need a new tenancy agreement when a property they are living in is sold. The agreement they signed stays in place and the new owner simply becomes the new landlord. When a property with tenants in situ (also known as sitting tenants) is sold, it can be confusing to know […]
How To Value A Property With A Sitting Tenant In The UK
A sitting tenant can lower a property’s value by 20% – 40%, depending on the type of tenancy, tenant rights, and current market demand. However, the term ‘sitting tenant’ can be used for a number of situations, with some resulting in larger drops in value than others. Here, we look at all the elements that […]