I am buying an HMO, and after exchanging contracts, I have to re-sign all of the individual contracts with the current tenants who have signed contracts with the previous landlord.
I have purchased a property with a tenant in-situ. I was able to serve a Section 3 notice to the tenants to notify them that I was the new owner and the new bank details for paying the rent. Also a Section 48 notifying of my address for the serving of notices. This allowed me to continue with the previous landlords tenancy agreement. Please research this as I am assuming it would be the same for HMO.
Amazing, thanks Chris!
You need to do a lot of due diligence on both the property and the tenancies before exchanging. Check out this site: