Do you own a property that is let out and are you thinking of selling it? That is entirely possible, but certain rules protect the tenant and govern the transition to the new owner.
Discover the key points to remember with BIV immobilier, your estate agency in Liège.
Informing the tenant
As the landlord, you can sell the property at any time, but you must inform the tenant. Ideally, this should be done by registered letter.
This makes it easier to organise viewings and allows the tenant to express an interest in buying if a right of first refusal applies.
Organising viewings
Viewings are permitted, but must take place at reasonable times and by agreement with the tenant. In the event of systematic refusal, the landlord can refer the matter to the justice of the peace, who will assess the situation on a case-by-case basis.
What happens to the lease when the property is sold?
The basic rule is simple: the sale does not cancel the lease.
- If the lease has a certain date (date certaine), the new owner must respect the terms of the existing lease.
- If the lease does not yet have a certain date, the tenant’s protection is somewhat weaker, but the new owner still cannot end the lease without complying with the applicable regional rules.
Termination by the new owner
The options for termination depend on the type of lease and the Region, but the following principles generally apply:
- For a 9-year lease, the new owner can end the lease for:
o personal occupation, with 6 months’ notice;
o major works, with 6 months’ notice;
o no reason, but only in certain cases and against payment of compensation.
- For a short-term lease (max. 3 years), the rules are stricter: in principle it cannot be terminated before it expires, unless there is a specific clause or an agreement between the parties.
Your estate agency in Liège
Would you like support in selling an occupied property? Contact BIV immobilier in Liège for personalised advice and guidance on the steps to follow.
Also on our blog: How can you avoid or reduce tax on property capital gains?
