selling a house with a tenant in it.

Wee_Willy_Harris

KrazyFool wrote: »

i wouldnt be good at a landlord as that would seriously pee me off. Giving plenty of notice and im sorry personal reasons have caused me to sell but tenant can say no to viewings.

at what point can you serve the if they miss rent, 1mnth, 2mnth?..

Say they miss rent and that causes issue with the mortgage so you may want them out but they cant be forced out which leads to rent/mortgage not being paid thus forcing sale

A landlord should always remember that the tenacy is the tenants HOME, the place where they should feel safe and secure, where they can decide who to invite in and who to exclude (hence "exclusive" use). I'm pretty sure that you wouldn't welcome a letter INSTRUCTING you to allow a stranger into your home for any reason you didn't agree with.

Section 8 notice can be served as soon as ANY rent is owing using grounds 10 and 11. However, these are discretionary grounds so may not result in possesion being granted. Once 2 month rent are owing, ground 8 can be used, which is a mandatory ground. This means that possession WILL be granted as long as the tenant was 2 months in arrears both at the time of service and the hearing. For grounds 8, 10 and 11, you will need to give 2 weeks notice.

Any resultant difficulties with your own morgage, I'm afraid, fall under the heading of "tough titties".

All I am saying is that open communication with the tenant is usually the best way to go. And giving as much notice as possible will probably be as useful to the LL as the T in the long run. People are more likely to be fair with you if you are seen to be fair with them.

sequence

Hope you sell quickly....

GDB2222

It's actually very difficult to sell a tenanted property. The tenants may not want to show people around, may not keep it tidy, etc etc. The buyers may want possession before the tenancy runs out. The tenants may simply stay on after their tenancy runs out!

The alternative of getting it vacant and then selling it is of course very uninviting from a cashflow point of view, but it may be the better bet. What you lose in rent you may recoup through getting more for the house. The trouble is that October is not an ideal time to start marketing.

I'd definitely have a chat with the tenants and see how they feel about this. They may agree to help you in various ways, depending on how you've always got on.

KrazyFool

thats just bs its my home not theirs im the owner (ok the banks/mortgage) they are just live there for a year. if the s1ht hits the fan its my name on the mortgage im the one thats going to get it not them. so if my financial cirumstances changes or/and its the result of the tenant then they should respect it and have some common courtesy. All i can give them is enough warning and apologies. i cannot believe people think its ' tough titties', are you a tenant or somthing? Tenants just seem to get way too much power.

Hopejack

Personally, I'd give notice to the tenant if you are adamant you want to sell. While it is harsh when you've had a good tenant, it's worse imo to try and sell while they are there - viewings etc and the uncertainty for them. I presume you've told him you are going to sell?

We rented a property out until earlier this year. We wanted to sell it so gave our tenant notice. I felt it was the easiest and cleanest way to do things. I'm sure the tenant wasn't happy about having to move and it was a huge inconvenience to them ( before I get abuse hurled at me from 'landlord batterers', I've been a tenant myself so have had it done to me).

Having said that, I'm so pleased I didn't go down the route of trying to sell with them in - it would still be for sale now as the place was a dump - they wrecked it - another story for another time. Took us a while to get the place saleable but we did.

It's much harder to sell a tenanted place unless it would be a good investment property - is the rental yield high for the value? I personally would never buy a property with a tenant in unless it was an investment property and not one I would want to buy and live in as my home.

GEEGEE8

KrazyFool wrote: »

thats just bs its my home not theirs im the owner (ok the banks/mortgage) they are just live there for a year. if the s1ht hits the fan its my name on the mortgage im the one thats going to get it not them. so if my financial cirumstances changes or/and its the result of the tenant then they should respect it and have some common courtesy. All i can give them is enough warning and apologies. i cannot believe people think its ' tough titties', are you a tenant or somthing? Tenants just seem to get way too much power.

It's the law. It prevents people like me being kicked out onto to street for no good reason.

You get your part from collecting the rent. I get my part for having a home I feel secure in.

My home is up for sale, I have no problem with it. I have allowed all viewing necessary and will have to move should she sell.

Warning & apologies? Get real.. this is someones home that they are paying for, hence why laws exist to protect tenants - because of people like you that think they are more important.

alfiesmum

I've been a tenant where the landlord was selling. Came to an agreement with landlord: I went away for a weekend. Left the house immaculate. Landlord did all the viewings in that weekend only. I was never bothered again. But then my landlord gave me maximum notice. I stayed until I had alternative accommodation. It may help your tenant to gain access to council list/property if you're putting them out? It may be good for them ultimately?

But can I say from your comments like "thats just bs its my home not theirs im the owner (ok the banks/mortgage) they are just live there for a year. if the s1ht hits the fan its my name on the mortgage im the one thats going to get it not them". You don't sound like you're cut out for being a landlord again in the future. All these eventualities need to be considered way before any contracts are signed, and people move in. And by the way, if it's you that's going to get it, then it's you that's going to get the profit too. Or are all landlords saints?

Good luck, get ready to do a shed load of magnolia painting soon!

terryw

KrazyFool wrote: »

i wouldnt be good at a landlord as that would seriously pee me off. Giving plenty of notice and im sorry personal reasons have caused me to sell but tenant can say no to viewings.

at what point can you serve the if they miss rent, 1mnth, 2mnth?..

Say they miss rent and that causes issue with the mortgage so you may want them out but they cant be forced out which leads to rent/mortgage not being paid thus forcing sale

These are business decisions that the potential landlord must take into account when starting out and in deciding which tenants to accept. The landlord like everyone else can not ignore the law of the land.

kaisersoze_2

alfiesmum wrote: »

But can I say from your comments like "thats just bs its my home not theirs im the owner (ok the banks/mortgage) they are just live there for a year. if the s1ht hits the fan its my name on the mortgage im the one thats going to get it not them". You don't sound like you're cut out for being a landlord again in the future. All these eventualities need to be considered way before any contracts are signed, and people move in. And by the way, if it's you that's going to get it, then it's you that's going to get the profit too. Or are all landlords saints?

Good luck, get ready to do a shed load of magnolia painting soon!

I think you may have the OP and another poster confused

Wee_Willy_Harris

KrazyFool wrote: »

thats just bs its my home not theirs im the owner (ok the banks/mortgage) they are just live there for a year. if the s1ht hits the fan its my name on the mortgage im the one thats going to get it not them. so if my financial cirumstances changes or/and its the result of the tenant then they should respect it and have some common courtesy. All i can give them is enough warning and apologies. i cannot believe people think its ' tough titties', are you a tenant or somthing? Tenants just seem to get way too much power.

Hmmmm... Have we been at the angry pills???

Right, point 1... It's NOT your home, you don't live there. A landlord agrees to give EXCLUSIVE rights of occupancy to the tenant as part of a tenancy agreement. In effect, you become a landlord by giving the tenant a home. It is, therefore, the tenants home and not the landlords.
Point 2, any financial commitments the landlord enters into are not the responsibility of the tenant. If a landlord feels that the rights he conveyed onto his tenant have a financially negative impact on him, he can hardly blame the tenant. If, for example, he loses the opportunity to sell because his tenant excercises the rights conveyed on him by the landlord at the start of the tenancy, that IS just tough titties.
Point 3, tenants have way too much power? Meanwhile... back in the real world... Any "power" a tenant has is given to them by the landlord. That power is little more than the right to a habitable home, free from harassment. The power to evict, the terms of the tenancy, rent increases, selling the property, borrowing against the property, etc etc etc are all powers enjoyed by the landlord. And, if the s hits the fan, the tenant ends up homeless, even if that s is the result of the landlords total incompetence. Frankly, the entire tenant/landlord relationship is heavily weighted in the landlords favour. That SOME landlords are too stupid to understand this comes as no surprise to me! Your attitude and ignorance may explain many of the problems SOME landlords bring on themselves.