A question to all you tenants

franklee

Milliewilly wrote: »

So you tenants in rented accomodation - did the house go up for sale whilst you were already in situ? If so then I can understand your concerns. If though the house was on the market when you accepted the tenancy why all the fuss when an agent rings and asks for a viewing?

I'd not touch a property that is up for sale with a bargepole. Of course not all landlords are upfront that the property is for sale when signing up a tenant! The number of times I've heard an agent say it's up for sale and rent and the owner will go with whatever happens first. That to me is not an indication that it will remain for sale during the tenancy.

Once you've got a tenant installed you can't really exchange contracts till the tenant has left, unless you can find an investor to buy. You can't really give the tenant notice till you are near to exchange or you risk the palace being left empty so back to square one. You can't give notice to leave within first six months unless the tenant agrees to that. The tenant may not leave as per the notice (especially as many tenants are used to getting section 21 notices as routine). Then there is the risk of damage, plus not being in show home condition. Why bother

If you want to sell then sell.

If you want to let then let.

Mixing the two up makes everyone's life a pain.

daisygrabber

Our tenants have just moved out and we are putting the property up for sale empty.
However, we did have an agreement, verbal, (as they gave us quite a long notice to quit period) that they would either show potential buyers or tenants round for a % cut of sales value or new rental, ie on a commission basis so they were "bought in" to the process and it was in their interests to get a sale.
As it was, we didn't get ourselves into gear quickly enough but did take a couple of agents round to value it for us while the tenants were still living there
and they left the house tidy for us. We thanked them with a bottle of wine :-)

Don't underestimate communication! Our tenants were brill but we talked to them and they talked to us. We built up trust both ways. They didn't always pay the rent bang on time but we got it all in the end.

They repected the property as our investment and we respected it as their home.

Good luck!