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Would you renew this tenancy?

Flatulentoldgoat
Flatulentoldgoat Posts: 304 Forumite
100 Posts First Anniversary Name Dropper
edited 20 March 2020 at 2:22PM in House buying, renting & selling
So my best friends parents have a reasonable sized property in Greater London. The tenants have been living in the house now for a couple of years and on the whole things have gone smoothly. Rents always been paid, no real problems or massive headaches. However, the tenancy agreement lapses in May. From the tenants perspective, there's enthusiasm to extend again. The huge elephant in the room is the virus outbreak. The tenants all work in the hospitality sector which is getting ripped to shreds, and my concern is that my friends parents are taking a massive risk by keeping their tenants on. Rather callously, I have suggested that they replace the tenants ASAP. Obviously, this isn't making me popular but money is money at the end of the day and I argue it would be far easier than having to deal with arrears and evictions.

Any thoughts?

Comments

  • cymruchris
    cymruchris Posts: 5,562 Forumite
    Ninth Anniversary 1,000 Posts Name Dropper Photogenic
    So they've been there a few years - they've always paid - they've never been an issue - and you think it's a good idea to turf them out without knowing that they might have a few £k saved in the bank - and replace them with 'new' tenants that you don't know that might also not pay, and worse might not be great tenants. How do you know that 'new tenants' won't cause problems?
  • SpiderLegs
    SpiderLegs Posts: 1,914 Forumite
    1,000 Posts Second Anniversary Name Dropper
    ASAP in this case is going to be august at the earliest so I wouldn’t get your hopes up.


  • Marvel1
    Marvel1 Posts: 7,461 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    edited 20 March 2020 at 2:56PM
    You are not the landlord, what has it got to with you?

    As for the ASAP - :D 
  • Slithery
    Slithery Posts: 6,046 Forumite
    Eighth Anniversary 1,000 Posts Name Dropper Photogenic
    edited 20 March 2020 at 3:06PM
    No need to renew at all, just let them go onto a statutory periodic tenancy as is their legal right.
  • greatcrested
    greatcrested Posts: 5,925 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    edited 20 March 2020 at 3:19PM
    ASAP in this case is going to be august at the earliest so I wouldn’t get your hopes up.


    The new leglislation is not yet enacted so the details are uncertain, but I suspect the LL could serve a S21 now, to expire in May, and then apply to court in 3 months (end June?). It's application to court that is postponed by 3 months, not S21 service .... I suspect.....
    But I agree with slithery. Periodic Tenancy. If all goes well that can continue for years. If not, simultaneous S8 and S21.
    (assuming S21s are not banned altogether!)

  • villieb
    villieb Posts: 54 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    why would you want to kick them out if they've been good tenants? Are your friends parents struggling to pay the mortgage on this property? If not, then why not reduce the rent for a few months to help them out rather than kicking them out? That's what I've done. My tenants all work in the hospitality sector, and to help them, I've reduced the rent they pay for the next three months (which we'll review in 3months time). Time are hard for everyone... lets look out for others rather than being selfish...
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