First time seller here - qstn on contracts/completion

[Abouttosell]

A potential buyer of my unit wants to offer and exchange contracts with the deposit etc: but - due to his own sale date - wants to move into my unit several weeks before the completion date (paying me an agreed amount in "rent" for those weeks).
Is this something that happens from time to time?
Is it risky? Anything to worry about?
Could it turn into a legal nightmare?
Should I say 'no way' and only agree to hand over keys etc: on completion day as is standard practice?
Txs.

[BoardManager]

No, I wouldn't. There are riskes eg they don't settle on time. Evicting them will be a hassle. Then there is the issue of potential damage to the property - the Vendor is responsible for this.

[Mick Jagger]

So long as you have a legal rental agreement i don't see why not. Ask your lawyer.

[lawyer]

While technically Mick is right it is highly unusual and could result in serious issues if for any reason the buyer could not complete.
It is a common situation where the seller is not in a position to complete their next purchase, so they pay rent to the buyer to stay in the property after completion.  However it would be very risky indeed to allow the buyer to take possession prior to completion as anything could go wrong.

[Lease]

Why not just simply agree a 1month 'normal' lease, perhaps with a 1 month security deposit just in case.  If the buyer does not complete, then the lease simply ends (as with any lease) and the tenant has to move out

[just do it]

Why not just simply agree a 1month 'normal' lease, perhaps with a 1 month security deposit just in case.  If the buyer does not complete, then the lease simply ends (as with any lease) and the tenant has to move out

and do it like a local landlord..... steal his security deposit too out of a sense of entitlement.

[Anke]

Don't do it. If he doesn't complete for some reason, it may take your six months or longer to evict him. Insurance is another issue. This is info from a lawyer.