Time to Quit Being a Landlord especially in Scotland

Missko

Error.
Error.

gazwaldo8

you NEED to sell (eg you want to move in yourself due to marital breakdown / job loss etc etc)

I meant need to sell or move in yourself.

Missko

Error.
Error.

Missko

Error.
Error.

gazwaldo8

I understand the theory of protecting the tennant - but rather harsh on the LL who may need to move on in their own life and may NEED to sell the house?

What if the house becomes part of an estate due to a death to the owner??

lighting_up_the_chalice

gazwaldo8 wrote: »

I understand the theory of protecting the tennant - but rather harsh on the LL who may need to move on in their own life and may NEED to sell the house?

What if the house becomes part of an estate due to a death to the owner??

There would be no restriction on a landlord selling their property, even if part of a deceased estate.

Lord_Baltimore

Is this the proposal?

Some of the key proposals include:-

(a) removal of the “no fault” grounds for repossessions which is currently available to all Landlords of Short Assured Tenancies. At present Landlords can reclaim their property simply because the fixed term has ended. The consultation document proposes the removal of this right for Landlords;

(b) the consultation proposes reducing the number of grounds under which a landlord can repossess their property from the current 17 grounds to 8 grounds. All these grounds would be mandatory (there would be no requirement to satisfy any court or tribunal that it is reasonable to repossess where the terms of the ground are met).

The proposed new grounds are:-

(i) a landlord wants to sell the home;
(ii) mortgage Lender wants to sell the home;
(iii) landlord wants to move into the home;
(iv) landlord wants to carry out refurbishment;
(v) change to the use of the home;
(vi) the tenant has failed to pay 3 months’ rent;
(vii) the tenant is anti-social; and
(viii) the tenant has otherwise breached the Tenancy Agreement.

lighting_up_the_chalice wrote: »

There would be no restriction on a landlord selling their property, even if part of a deceased estate.

But with a sitting tenant?

JencParker

Missko wrote: »

Bloody tenants will have more security of tenure than hard-working mortgage payers!

You imply tenants aren't hard working!

gazwaldo8

(iv) landlord wants to carry out refurbishment;

Aha! - There will be the most common excuse for sure!
Evict the tennant - quick lick of paint and re-let to someone else!

JencParker

Missko wrote: »

Removal of no fault eviction means you can't evict purely because the tenancy period has ended. It rolls on forever til the tenant misbehave or moves voluntarily or dies...

Can't think of any other investment like that Bluebird.

Having a tenant in situ does not stop it being an investment. Maybe not such a lucrative one, or money for old rope, but it is still an investment.