Fed up with being a landlord

MaxiRobriguez

Bravepants wrote: »

I think this is the best way to let out property...to actually rent out part of your own home; a room, an apartment, or an annex.



You are still then technically ONLY responsible for one house, and your tenants would be less likely to misbehave with your property!

The difficulty with that is your home is no longer just your home, and different norms need to be shared.

We have two spare rooms in our house but I would never rent them out because I want my family home to be... my family home. It would take a significant amount of rental income to change that - perhaps five figures per month.

18cc

I am sure you are aware, but just in case you are not, section 21 is about to be abolished so you will not have the option of asking your tenants to leave - they will have indefinite security of tenure provided they pay the rent etc.

Obviously the details are to be worked out, especially if the law will be retrospective or will only apply to new 12 month contracts for example, but have a think if you want to be in that situation.

bsms1147

18cc wrote: »

I am sure you are aware, but just in case you are not, section 21 is about to be abolished so you will not have the option of asking your tenants to leave - they will have indefinite security of tenure provided they pay the rent etc.

Obviously the details are to be worked out, especially if the law will be retrospective or will only apply to new 12 month contracts for example, but have a think if you want to be in that situation.

The Government has confirmed they do not plan for the changes to be retrospective, so any existing ASTs on the date the law comes into force will continue and still have use of Section 21. When the tenancy comes to an end, any new tenancy agreement will be an assured tenancy.

But even if it were restrospective...

What changes is the Government proposing to mitigate the loss of Section 21?
The Government has suggested that improvements to the Section 8 process. These include:
Introducing a new ground when the landlord wants to sell the property

...which would be the case here. Obviously not set in stone, but in any case unlikely to impact the OP.

18cc

Yes exactly - but the devil is in the detail etc. In particular, the eviction will most likely have to be done under section 8 (ie not section 21) which requires court proceedings and can take months. Something to keep an eye on.