My Partner and I have just purchased our first home in Victoria. :) Unfortunately the previous owner had signed a 12 month lease agreement with their tenants only 3 months ago. We would like to move into the house before this lease runs out but from a brief look at the tenancies act it seems like this would not be possible without their consent. We would save over $150 per week living in the house rather than continuing to rent while waiting for the tenancy to end. The rent they are paying is also around 10% less than comparable properties in the area so we are losing potential returns there as well.
How can I get the tenants to move out early?
Are their any legal options I may not have thought of?
Any Ozbargainers been in this situation before? If so what did you do?
EDIT 1: Just to be clear I knew and accepted the property was under lease when I purchased and worst case I accept I just have to wait 9 months. That said I am particularly interested in any responses to my last question. "Any Ozbargainers been in this situation before? If so what did you do?" I don't want to be too unfair to the tenants but would really like them to move out early.
First of all, congrats.
You can give them an incentive to move out, that may mean financially reimbursing them. But if they say no, then there's nothing that you can do.
It was part of the section 32 and your solicitor should have made you aware of the implications of the fixed lease.