If you're thinking about buying a tenanted property, there are a number of things to consider.

Firstly, it is recommended that you instruct a conveyancer who is experienced in dealing with purchases that are subject to an ongoing tenancy. Whilst the process for transferring the title deeds is the same, some additional work will be required of your solicitor.

Secondly, if you are relying on mortgage finance for the purchase, you will require a buy to let mortgage – residential mortgages are not suitable for tenanted properties.

Find out whether the seller or an agent is managing the property, and obtain from them the following:

• Details of the tenancy and a copy of the tenancy agreement
• Confirmation that the rent is up-to-date, either in the form of a rent book or a written and signed letter if no rent book is available
• Details of all individuals occupying the property (check that these are the same individuals named on the tenancy agreement)
• Confirmation that any damages deposit has been protected, and details of the protection scheme used (the seller or his or her agent should have a copy of the deposit protection certificate)
• Confirmation that any other regulatory obligations, such as those pertaining to gas and electrical safety, have been met
• A copy of the inventory form, so you know which goods will be included in the sale and which are the tenants’ own property
• Details of any correspondence to and from, or notice served upon, the tenant or tenants

Upon completion, the tenancy needs to change hands. It is useful to try to complete on the rent due date so that rent does not need to be split between the buyer and seller.

If the sitting tenants are paying rent to an agent and you wish to retain the services of said agent, no arrangements need to be made with the tenant regarding rental payments (though you will need to ensure that you take over the agency contract and that the agents are given your details in order to pass rent on to you). Otherwise, your solicitor will need to obtain a letter of authority from the seller advising the tenant that future rental payments are payable to you or your agent.

As with any property you are intending on buying, always try to view it, even if buying at auction; purchasing rental properties unseen is a recipe for disaster. You might also get a chance to have discussion with the tenant or tenants, who might be more open and honest about pertinent matters relating to the tenancy and the property.