Tenants Rent?

[Dani_Tow]

Hi there,

My husband and i are in the midst of purchasing a property. The owner has got a tenant in that refuses to leave which is delaying the whole process for transfer.

We just got slapped with two huge bills... One for the conveyancer and one for rates and levies...

My question is... surely if we have to pay for half the rates and levies, then don't we get half the tenants rent as well?

 

[EMAM]

When is/was the lease up?

 

[pinball wizard]

When is/was the lease up?

What does it say, and what does the contract of purchase say regarding the tenant, rental and fees?

 

[Kosmik]

Hi there,

My husband and i are in the midst of purchasing a property. The owner has got a tenant in that refuses to leave which is delaying the whole process for transfer.

We just got slapped with two huge bills... One for the conveyancer and one for rates and levies...

My question is... surely if we have to pay for half the rates and levies, then don't we get half the tenants rent as well?

The rates and levies will go into a trust account. They will only be deducted once transfer is complete. Also the conveyancing bill should be similar ie: settled post transfer, what are they billing you for now? is it not the transfer duty etc which has to be paid first to SARS before transfer can take place?

Regarding entitlement to rent, once the property is in your name, you are fully entitled to any rental income generated on the property FROM THE DATE OF TRANSFER. Again, all these funds should be going into a trust account to be divvyed up once transfer is complete. Getting rid of a reluctant tenant though is another ugly kettle of fish and sadly has nothing to do with the sale.

 

[Muttley]

I would also get a copy of the lease agreement and see what it says.

 

[deweyzeph]

Usually the issue of a tenant does not hold up a transfer. The rights and responsibilities of being the landlord simply get transferred to the new owner.

 

[ShareMosselBay]

The fact a tenant is in the property has nothing to do with holding up the transfer - except if a COC is needed and they do not want to grant access to electrician. But then there are specific legal remedies for the owner.

You are not liable for any rates/taxes/levies until transfer has taken place.

Upon transfer, you are the new landlord and all rental monies are owing to you.

Remember, Huur Gaat Voor Koop - so you cannot evict tenant based soley on change in ownership. Check rental agreement for notice period, if any.