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jmt

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neas

You can increase rent but believe it needs to be under same terms if you wanted to evict them i.e. 2 months notice and they could just turn around and decline increase.. requiring you to evict them.

I'd just tell them you wish to sell soon, they may wish to remain in property but they must know its cheaper to rent.

Also offering them 1k off next door price is ok.. but you must understand its not the asking price you'd give 1k off...

Really i'd be knocking 5k off the agreed price next door meaning they save 5k. They prob not in a position to buy anyways so moot point.

Have a frank chat with them, say you wish to sell soon (dont talk about official notices yet) and offer them first dibs. Then see how they take it. Getting them onboard and positive is a good idea.

If they not interested then review options then. Selling a tenanted property is slow as you get BTLers not home-owners looking (and BTL isn't so good these days i hear).

On other hand turfing them out coud see you having no income to cover mortgage for 6 months+.

terryw

Point 3. Is probably the worst idea. The tenant is entitled to quiet enjoyment and is quite within their rights to refuse viewings, and even if viewings are permitted is unlikely to show the dwelling in its best light. If you go this route , it might be worthwhile offering the tenant a bung if it sells!

Increasing the rent is possible under section 13 (assuming statutory tenancy) providing correct procedure is followed.

Property is likely to sell quicker with vacant possession but of course you take the risk that it may well take a long time and you are without rent in the meantime.

Option 1 would be easiest for you, but the incentive for the tenant is small (£1000 depending upon value of property) - you will be saving much more on estate agents' fees. In any case, the property nearby may not have sold for that price. You need to check quite a few local prices not just one.

I am sure that others will be along to offer opinions.

bw

Okydoky25

From a renters POV can this not wait until after Xmas. ESP if they have children? If you wanted me on side in this situation slapping me with a load of stress and possible extra cost at ths time of year would get my back up straight away.

terryw

jmt wrote: »

Some additional info - property opposite listed Aug 12 and SSTC within the month advertised for £89,995 agent told me it sold for £84,000 and removed from Rightmove in last 10 days. I told them I was thinking of putting mine on the market and asking them about selling costs.

OK. Make sure that you are comparing like with like in terms of the general standard. Still check out prices actually sold - EA might be being uneconomical with the truth if he thought you were a potential seller! Also we are now in the house sale kipper season with xmas coming - sales pick up in the spring.

neas

Estate agent usually charge around 1-1.5% (PLUS VAT).

so thats nearly 2k it'll 'cost' you to sell. You want to give them the EA fee in discount from the actual sell price... and a little bit more to make your life easier.

But in all honesty thehy may not want to buy your property.

Certainly the properties I rented were in a right state and were simply a temporary measure (2-3 years) while I saved a deposit for a family home with good EPC, good decoration, 1 more bedroom and garden etc.

Just a thought but not always renters rent because they can't buy . Some of us just do it to buy our time to skip a iteration (i bought a 3 bed as first home.. sold it now and looking for a 4).

terryw

You are putting a great deal of thought into this and I am sure that it will all work out well in the end.

The initial discussion with the tenant is of prime importance. Letters and notices could well get his back up and telephone calls could be misconstrued. It is probably worth a trip to see him to have a real chat stressing that nothing immediately is going to happen. You may find that he has other plans anyway.

Personally, I would not mention a possible rent increase until you have your master plan in place. For the relatively small increase, you are better with the devil you know.

theartfullodger

jmt wrote: »

........ . .
4, for me to give 2 month's notice on next rent day (moving out date 28/2/13)
.

As an experienced Landlord I am sure you appreciate that the "2 month's notice" you refer to, a Section 21 notice, does not quote a "moving out date" but merely an expiry date (usually "after dd/mm/yy").. and that that S21 notice does not end the tenancy, the tenant does not have to move out, it merely entitles LL to apply to the court for a possession order etc etc (probably take several more months..).

This all assume S21 is valid: Was a deposit paid, was it protected (after move-in date), was the "prescribed information" served on tenant and can you prove all of these {especially prescribed info service...}??? If not S21 will be invalid & you'd need to return deposit, re-issue S21 and start again...

Do let us know please!!!

There is (at least..) one other option: Bribe T to go ASAP (start in the £k's...._)

Cheers!

go_cat

After 2 years I presume they are on a periodic tenancy not fixed?

hardpressed

I'm not sure that I understand point 2. Why ask them to give a months notice, if they wanted to move they would do that anyway, perhaps I'm missing the point.

theartfullodger

jmt wrote: »

/...........



Art - a Section 21 was issued by the letting agents on the day they moved in, ............

If issued before the took possession it would have been invalid anyway....