flat for sale... advert says property cannot be rented out

conqueror01

cashbackproblems wrote: »

I have seen a small number of these during my flat hunt and avoided them regardless of price and they tended to be priced lower. While I have no intention of renting it not having permission to in case of sudden job loss/change of circumstances is not very appealing. Plus there will be less demand when it comes to selling.

Yeah that pretty much what I'm seeing and also what I would be concerned about (bold bit).

PasturesNew

These clauses will attract "similar thinking people". People buying into a block like this are more likely to be settled and interested in their block.

They won't be the flakey sort that buy/sell quickly, or buy/rent/move back in/try to sell it/rent it again/leave it empty .....

Neighbours will feel they "know" who their neighbours are today and who their neighbours are likely to be in 5 years' time.

That's priceless for some.

gfplux

I once owned a flat in north London with this restriction. All 12 owners were interested in the block, its apperence, its upkeep and considered seriously any proposals for improvements.
Having also owned in blocks where renters have come and gone on a very regular basis I know the former is a much more pleasant place to live and own.

daveyjp

boliston wrote: »

sublet bans make resale very hard - touching and bargepoles come to mind lol

My mother in law lives in such a flat. However they have found that getting around such a restriction isn't difficult.

eddddy

daveyjp wrote: »

My mother in law lives in such a flat. However they have found that getting around such a restriction isn't difficult.

That information would be more useful if you explained how.

Is it simply because the tenants are 'well behaved' - so the the other leaseholders and freeholder 'turned a blind eye'?

Leases generally have "a mutual enforceablity covenant". So if any leaseholder complains to the freeholder about a breach of covenant (e.g. sub letting when it's not allowed), the freeholder must enforce it.

It could be difficult if you sign a 12 month AST as a landlord, and within a month you start getting letters from the freeholder's solicitor telling you to stop.

cashbackproblems

eddddy wrote: »

That information would be more useful if you explained how.

Is it simply because the tenants are 'well behaved' - so the the other leaseholders and freeholder 'turned a blind eye'?

Leases generally have "a mutual enforceablity covenant". So if any leaseholder complains to the freeholder about a breach of covenant (e.g. sub letting when it's not allowed), the freeholder must enforce it.

It could be difficult if you sign a 12 month AST as a landlord, and within a month you start getting letters from the freeholder's solicitor telling you to stop.

one way a friend gets around it is by having lodgers instead of letting out the on a full time contract. Or uses airbnb. As long as the neighbours are not interfering and your tenant is not badly behaved people wont care

teddysmum

Newtown wrote: »

Many many thanks.

you guys have been very helpful. Loving this forum

:rotfl::beer:

The listing says 'sold stc'.

teddysmum

conqueror01 wrote: »

Looking at various things (to live in), noticed a flat for sale which says it cannot be rented out. Why would this be?

(It'd be nice to think a property could be rented if you couldn't sell when that time comes)

It is rather tiny , unless it's for just two people, and appears to have no storage space.

cashbackproblems

teddysmum wrote: »

The listing says 'sold stc'.

dilly dally posting on mse for a popular house and it will be gone