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Selling property to go into rented accommodation?

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  • macman
    macman Posts: 53,129 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    OK. Final point: at present he owns the property and has security of tenure. If he rents privately, he will not, and could find himself homeless.
    No free lunch, and no free laptop ;)
  • Minxy1
    Minxy1 Posts: 14 Forumite
    10 Posts
    If properties are so cheap, can he not buy a similar property nearby on the ground floor?
    Possibly but may be a long wait for a property to come up for this price with no stairs. There seems to be more choice in rental properties. 
  • greatcrested
    greatcrested Posts: 5,925 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    But a huge difference in his security between renting and owning.
  • macman
    macman Posts: 53,129 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Rent the existing flat out and rent a more suitable ground floor property?
    No free lunch, and no free laptop ;)
  • pramsay13
    pramsay13 Posts: 2,149 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Is the property still on the ground floor but just has lots of steps leading to it? 
    Near where I am there are lots that have had ramps installed even though they don't particularly look nice. 
    Can he afford to get something installed?
    If he is vulnerable he could speak to the local social work department about being assessed for adaptations to allow him to live in his own home for longer.
  • [Deleted User]
    [Deleted User] Posts: 3,297 Forumite
    1,000 Posts Fourth Anniversary Photogenic Name Dropper
    macman said:
    OK. Final point: at present he owns the property and has security of tenure. If he rents privately, he will not, and could find himself homeless.
    The old boy is in Scotland so if he rents he will have a Private Rental Tenancy meaning that to evict the landlord would need to use 1 of 18 grounds. There’s isn’t the risk of a “no fault” eviction like there is in rUK. 
  • Catwales
    Catwales Posts: 34 Forumite
    Fifth Anniversary 10 Posts
    Get in touch with the local authorities housing dept, ask to apply for sheltered housing on medical grounds. They'll triage his application and say whether he can go on the waiting list for suitable accommodation 
  • ratechaser
    ratechaser Posts: 1,674 Forumite
    Seventh Anniversary 1,000 Posts Name Dropper
    I appreciate that it's tangential to the question, but having just had a look on Rightmove, some of the potential rental yields up there are astronomical... although I guess the default risk must be similarly high...
  • macman
    macman Posts: 53,129 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    With 1 b/r flats going for £9K in Port Glasgow, I'm surprised that Robbie Fowler hasn't bought the whole town.
    No free lunch, and no free laptop ;)
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