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Tenants moved out as I am selling, options?

suestew
suestew Posts: 372 Forumite
Part of the Furniture 100 Posts
in House buying, renting & selling
Im selling a property that currently has tenants in, when they found out I was selling they found somewhere else (fair enough), so it's empty with no rental income coming in while it's up for sale. A good friend has a friend who is separating from wife and is keen to view property to buy, he also has no fixed abode at present, someone suggested I rent cheaply to him so I have a bit on money coming in but I realise this might not be the best thing to to do so would like some advice.

I know a shorthold tenancy is min of 6 months, but can I do my own contract listing conditions or should I steer well clear?
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Comments

  • jonnygee2
    jonnygee2 Posts: 2,086 Forumite
    1,000 Posts Second Anniversary Name Dropper Combo Breaker
    A good friend has a friend who is separating from wife and is keen to view property to buy, he also has no fixed abode at present, someone suggested I rent cheaply to him so I have a bit on money coming in but I realise this might not be the best thing to to do so would like some advice.

    It'd be at your risk. Once he moves in and pays rent, there's a tenancy agreement in place and he has the statutory rights of a tenant, and you the statutory obligations of a landlord. And if he does not move out after 3 months (or whatever you agree to) you will need to wait until the six month term is up and then start the normal expensive and time consuming proceedings to get rid.

    Basically you can draft your own agreement and write whatever you want on it, but legally it won't override statutory minimums.
  • zagubov
    zagubov Posts: 17,956 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    This could turn round and bite you. I'd run a mile.
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  • suestew
    suestew Posts: 372 Forumite
    Part of the Furniture 100 Posts
    jonnygee2 wrote: »
    It'd be at your risk. Once he moves in and pays rent, there's a tenancy agreement in place and he has the statutory rights of a tenant, and you the statutory obligations of a landlord. And if he does not move out after 3 months (or whatever you agree to) you will need to wait until the six month term is up and then start the normal expensive and time consuming proceedings to get rid.

    Basically you can draft your own agreement and write whatever you want on it, but legally it won't override statutory minimums.

    ok thanks for that, I needed someone to tell me truthfully what rights we both have
  • steampowered
    steampowered Posts: 6,176 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    No fixed abode = the risk of him not moving out when you want him to being high.
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
    10,000 Posts Fifth Anniversary Name Dropper Photogenic
    suestew wrote: »
    ok thanks for that, I needed someone to tell me truthfully what rights we both have


    Essentially, the FOAF would have all the rights and you'd have none.
  • getmore4less
    getmore4less Posts: 46,882 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    Im selling a property that currently has tenants in, when they found out I was selling they found somewhere else

    They have done you a favour by moving on, much easier to sell vacant.

    Reads like you did not discuss with them a time scale and they found out by accident so got out on their terms.
  • need_an_answer
    need_an_answer Posts: 2,812 Forumite
    Ninth Anniversary 1,000 Posts
    Just get on and sell the property with vacant possession.

    Don't involve a third party however friendly or desperate they are to do you a favour by living cheaply and covering your expenses whilst you sell.


    Your buyer will need vacant possession so for the sake of 5 or 6 months get on with selling the place not entertaining guests.

    Personally if you want to sell to this person then fine but he doesn't set foot into the property until the purchase is complete and you should treat him no differently to any other potential purchaser
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  • hazyjo
    hazyjo Posts: 15,476 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    suestew wrote: »
    he also has no fixed abode at present
    Wouldn't do it anyway, but the bit above really rings alarm bells. If he needs housing by the Council or whatever, he will probably be advised to stay put and get evicted. As above, that will take months. Prob at least six.
    2024 wins: *must start comping again!*
  • sal_III
    sal_III Posts: 1,953 Forumite
    Fifth Anniversary 1,000 Posts
    What are his chances of getting a mortgage if he doesn't have fixed abode?

    Letting him move in before exchange - hell no,
    Letting him move in between exchange and completion is doable, although still no the best idea.
  • AdrianC
    AdrianC Posts: 42,189 Forumite
    Eighth Anniversary 10,000 Posts Name Dropper
    hazyjo wrote: »
    Wouldn't do it anyway, but the bit above really rings alarm bells. If he needs housing by the Council or whatever, he will probably be advised to stay put and get evicted. As above, that will take months. Prob at least six.
    ...and won't be cheap. Sure, you can then take him to court for the debt...
    sal_III wrote: »
    What are his chances of getting a mortgage if he doesn't have fixed abode?
    It depends why he's NFA, of course. Perhaps he's simply between properties and has a sizeable bank balance?
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