Having to rent for another 6 months but want to buy

aylithuk

Hi guys

So our contract is coming up for renewal and our LL will only renew 6 or 12 months at a time.

Normally I'd be fine with this but at the end of the month we have out deposit. She won't consider a rolling contract with one months notice because she worries about re renting the house out.

So do you think we could actually start lookin for a house? Just concerned about 6 months. What if we find something quickly as I understand most house purchases take about 3 months?

Just don't know what I do for the best. Contract is up on the 15 and the new contract will be until march next year.

G_M

aylithuk wrote: »

Hi guys

....... She won't consider a rolling contract with one months notice because she worries about re renting the house out.


r.

....It's not her choice - it's yours.

See

Ending/Renewing an AST (what happens when the Fixed Term ends?)(What is a Periodic Tenancy?)(How can a LL remove a tenant?)(How can a tenant end a tenancy?)

If you refuse to sign a 6month commitment and she evicts you, what will happen? She'll have to...... 're-rent the house out'.

Whereas if she does nothing, you can stay (on a monthly contract) and she does not need to 're-rent the house out'.

Fluffi

You can't predict how long finding a house and completing a purchase will take ... 2 months if straightforward no/short chain or 6+ months if something is difficult, the chain collapses and has to be restarted.

Most landlords won't allow a rolling monthly contract, they need to make money, don't expect them to want to help you. My advice would be to allow for overlap between renting and owning a home with a mortgage for a couple of months.

G_M

Fluffi wrote: »

Most landlords won't allow a rolling monthly contract, they need to make money, don't expect them to want to help you. .

I cannot imagine where this comes from......

Many LLs/tenants continue on rolling (Statutory Periodic Tenancies) after the initial 6 months. Sometimes for years on end.

It saves all the faffing with paperwork every 6/12 months.

And if a tenant wants to leave, they'll leave. Whether you force them to stay a couple of months longer against their will till the next 6 months is up makes litle difference. And far better from a business perspective, to have happy [STRIKE]customers[/STRIKE] tenants than resentful ones.

Many LLs (and most sensible ones) will be flexible.

Plus of course, if the LL insists on a new fixed contract the tenant may simpy leave early rather than sign and commit - that also makes no business sense.

Zoology_Dragon

As landlords we have always been happy for our tenants to go onto rolling contracts (never even suggested that they renew, it just happens) and as tenants we have also always gone onto a rolling contract. It's very standard and there's no reason why you should feel pressured into signing for another six months, I think it's highly unlikely that you'll be given your marching orders.

harrys_dad

Is it your LL that "is only offering 6 or 12 months" or is it a grasping Letting Agent trying to get another set of fees? As stated earlier, it is YOUR choice to go onto a STP not your LL or LA. Have you already been given a S21? If not then it will be at least two months after your next rent day before you have to leave, and longer if you insist on them taking you to court to get evicted. It is highly unlikely that your current LL will evict a good rent paying tenant.

aylithuk

Thanks for the advice guys

I have been renting since I was 25 (now 33) and this is the 1st time we've not just gone onto a rolling contract. (4 other places before this one)

It is the LL and honestly I understand the 6month thing. Plus, while I understand I could just not sign, its not something I can take a chance on.

I was more concerned over the whole house buying process rather then signing onto another 6 months.

I have no doubt that we could find and exchange within 6months but I am more worried about having a major lap over and having to pay rental and mortgage

Thrugelmir

aylithuk wrote: »

I have no doubt that we could find and exchange within 6months but I am more worried about having a major lap over and having to pay rental and mortgage

Perhaps worry more about it when the time arrives. There's plenty of ways to drag out a house purchase transaction.

Remember you'll be bottom of the chain more than likely. So everyone above you will be behind you in the process.