should we get rid of our tenants in order tosell quick?

m1ntie

However, we do only have to give them a months notice, so it seems daft to me that we have arrnaged this payment break, which gives us 6 whole months clear to sell the property without having to pay for both places, and yet we're still keeping them in there and, quite frankly, devaluing the place.

If they are on a SHT I think you will find that you must give them 2 months notice which must be start on the rent due day. It is also very important that the notice is worded and served correctly in accordance with legal requirements. Also if you upset them they may not move out at the end of the notice period and you would need to go to court and get an eviction order.

mlz1413

haven't read your first post entirely but do you think the tenants might buy it?

nugget08

they are good tenants and good payers (however, the letting agent is a nightmare) but the problem is its just costing us so much a month to rent the thing, we need to sell it. i am expecting and will be going on maternity leave in january, so need to cut down on our outgoings to a massive degree.

the mortgage is £840 (due to go up soon i shouldnt wonder), but we only charge £750 rent. therefore we still have to pay almost £100 on top. then theres buildings insurance( £25 a month) gas boiler cover ( £15 a month) ground rent and cover charges (£600 odd a year). its just costing us far too much. even if we put the rent up, we cant put it up that much, so it wouldnt really make much difference.

i know its a bad time to try and sell, but I just want shot of it. however, i agree, they pay their rent and are entitled to have the place laid out how they want it. i think we have to get rid of them while we have the time - however, i will speak to them face to face

nugget08

the tenants might buy it, but they are quite young and i dont know if they are in the position to buy it at the price we're looking for. also, i would be a bit reluctant to sell it to them as that would mean we would have to give the letting agents a 'finders fee' when the property was sold. (we didnt look at the contract well enough and noticed this a couple of months ago - if the current tenants end up buying the property, we have to give the letyting agents that found them fo us a cut of the profits) to be honest, the letting agents have been so awful, i really really do not want to do this.

i take all your points on board - i will check the terms of the lease with regards to giving them notice, and i would do it as nicely as possible. i agree that a succession of viewings would be a lot to ask, although i would try and do the majority of the viewings duri ngt he day, with the estate agents doing them

moneysavinmonkey

nugget08 wrote: »

However, we do only have to give them a months notice

What kind of tenancy agreement do you have? I very much doubt you only have to give them one months notice. With a periodic AST the statutory minimum notice period is two months - usually slightly more as it is two months from the rent date. And one/two months notice does not necessarily mean they will move out in one/two months.

Don't forget you have to serve them with a exactly worded notice. They may not move out on the notice date and then you have to get a court order in order to evict them - if you've made a mistake on any of your paperwork or got the dates wrong you won't get the eviction and order and you'll have to start again. It could take you 6 months or more. If your tenants are wanting to move into council house then they are obligated to make you go through the whole process or else they are deemed to have made themselves intentionally homeless so it is not uncommon.

Don't be naive about this.
If you sell your property but don't have vacant possession in time for completion there could be extreme financial penalties.

Premier_2

m1ntie wrote: »

You need to be aware that the tenants may not allow viewings at all. I am afraid that legally you cant make them during your tenancy.

Any carefully worded tenancy agreement would specifically allow viewings at for the purposes of finding new tenants and/or selling the property.

PasturesNew

nugget08 wrote: »

... that would mean we would have to give the letting agents a 'finders fee' when the property was sold. (we didnt look at the contract well enough and noticed this a couple of months ago - if the current tenants end up buying the property, we have to give the letyting agents that found them fo us a cut of the profits) to be honest, the letting agents have been so awful, i really really do not want to do this.

Somebody from these boards wanted to buy the house they were renting. So they bought it. The agent never knew. What they did was gave notice to leave and moved out (all their stuff in a van up the road on the inventory checking day - and a couple of bits of garden furniture went next door for a few hours). The agent turned up, went through the inventory in the empty place, signed it off. They handed the keys back and left. Drove off up the road.... couple of hours later they moved all their stuff back in as they'd actually owned the house for a few days!

Worth a thought, but not if you've got dim tentants or they wouldn't understand what to do etc and might c0ck it up in the implementation.

RecoveringAlcoholic

hubby also wants a really good price for it

Hubby needs to watch the TV news and read the press.

tbs624

mc1ntie & moneysavingmonkey are right about the length of notice required from a LL

If your tenants are on an AST (Assured Shorthold Tenancy) they only have to give you one month's notice, but you have to give them at least two months and it must be in writing - check the Housing Act 1988 S21. You need to make sure you get the dates right or it will be invalid - there are differences depending on whether you are serving a notice seeking to regain possession at the end of the fixed term or a notice during a "rolling" periodic tenancy.And even then,as MSM has pointed out, they may not leave when you want them to.......

If you are not members of a LL association who can advise you, you can go over to www.landlordzone.co.uk and check it out there

nugget08

thank you pasturesnew - we had already considered this!!

also, i think i agree with premier that in our lease it does state they have to allow viewings for the purpose of renting/selling. but i will check this carefully - i will also check carefully about the giving notice stuff.