Jancam
12-04-2010, 17:28 PM
Due to financial circumstances I am needing to sell my 2 buy to let properties and have found a buyer much more quickly than anticipated. The current tenancies (both student lets) will end shortly. We have tenants who have signed agreements for the next academic year and they have paid their deposits. The buyer of my properties is aware that both properties are let for the next academic year.
My questions are:
1. What should be done with the agreements for the new tenants naming myself as landlord? - who is responsible for issuing a new agreement?
2. What should I do about the deposits paid by the new tenants? Should I return the money to the tenants for the new Landlord to sort out or should I transfer the money to the new Landlord?
3. What should be done with all the guarantor paperwork? - all guarantors are naturally given an assurance that the documentation they provided will be securely kept. My feeling is that I should return it to them and let the new landlord seek guarantors.
I realise that there probably is not one clear answer but I would appreciate any advice. Unfortunately my solicitor does not get involved with sorting tenancy agreements/deposits etc.
My questions are:
1. What should be done with the agreements for the new tenants naming myself as landlord? - who is responsible for issuing a new agreement?
2. What should I do about the deposits paid by the new tenants? Should I return the money to the tenants for the new Landlord to sort out or should I transfer the money to the new Landlord?
3. What should be done with all the guarantor paperwork? - all guarantors are naturally given an assurance that the documentation they provided will be securely kept. My feeling is that I should return it to them and let the new landlord seek guarantors.
I realise that there probably is not one clear answer but I would appreciate any advice. Unfortunately my solicitor does not get involved with sorting tenancy agreements/deposits etc.