UK Landlord Forum / Life

We are told the tenant has been there for several years and never any trouble or late payments. Would anyone be kind enough to make us aware of any potential pitfalls. Thanks.

Right now, I'm doing exactly this.  I've taken three self-protective measures.

First, as a condition of my offer, I've seen the paperwork to verify that they really have been there for several years and really have made all the payments exactly on time.

Second, I've been to see the tenant and explained that they'll be able to stay in the house and pay the same rent, but that they'll need to sign a new tenancy prepared by me.  Then as a condition of my offer on the house, I've required that on the day of completion, the current landlord terminates their tenancy and refunds their deposit.  I will offer them a replacement tenancy and accept a Tenant Fees Act-compliant deposit from them.

Third, I've specified that my offer includes everything on the inventory the tenants have signed.  I'll go through the inventory with them on the day of completion.

Thanks for the reply. The rent the tenant is currently paying is slighly under market rates so we plan to discuss a small rise of £20 per month.
Having a second viewing tomorrow. The building actually 2 flats owned by one person who plans to sell one this year and the other next (tax) year. He says he isn't bothered which one goes first. His daughter is moving out of one and apparently the tenant will switch if required.
Am just a little suspicious as to why he wouldn't be teally keen to keep a goid tenant for another year himself. Basically he is offering the tenant up to us if we want her or not either way.
Not come across this before. We have 2 other BTL houses that we sourced tenants for ourselves.