18 February 2022
Conveyancing - Adjustment of rent
My client is purchasing a property which is currently tenanted so an adjustment of rent is required. The vendor's lawyers have asked me to adjust for the rent minus management fees and other costs. Is this correct?
Thank you for the question.
No. The adjustment is on the basis of the rent disclosed in the lease.
If the vendor chooses to pay a third party to collect the rent, that cost is to be borne by the vendor.
Regards
Mentor
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