Coming to an agreement with tenants to move out prior to the new 6 months' notice period

littlemiss19

Hi everyone,
We are trying to sell our flat (rented out) so we can buy a family home. The government has increased the amount of notice a tenant receives when served a Section 21 notice to six months. This is too long for us to wait as our dream property is about to go on the market this Friday.

So, we would like to come to some agreement with our tenants whereby we give them a financial incentive to leave earlier than six months. We are in the process of trying to word an agreement and was wondering if anyone has a template/tips to help us with this?

Many thanks,

Littlemiss. 

greatcrested

The wording is the easy part.

Have the tenants agreed and what have they agreed?

theartfullodger

You need a deed of surrender.  Or tenants simply give valid notice and depart.  The tenants don't have to agree.  To be realistic many might want £5-10k at least. 

Is there any option to extending the mortgage amount or remortgaging to free up enough £££££?

Tenants may be viewing.

hazyjo

You'll need a buyer too. Most sellers, me included, wouldn't take you seriously without a complete chain beneath you.

Is this a property you've wanted for years or did you just think it was a good time to start looking? Just seems a bit odd to be house hunting if you need to get tenants out and sell the property! Even without tenants, it could take months to sell.

littlemiss19

Dream property - its a few doors down from where we currently live. I realise our situation may be awkward, but if we get this dream property we can afford to offer the flat competitively. 

Comms69

How much are you thinking of offering them? 

Because i'd be looking at the equivalent of 6 months rent.

greatcrested

Ironic reading this after the post below:

https://forums.moneysavingexpert.com/discussion/6195309/section-21-and-a-rent-increase#latest

But yes, ideally a Deed of Surrender but it does not have to be unless the original tenancy was for 3+ years. See

https://blog.openrent.co.uk/surrendering-tenancy-agreement-mutual-consent/

missfreshpastures

It’s going to be very hard to get tenants out over the next few years

grumiofoundation

missfreshpastures said:

It’s going to be very hard to get tenants out over the next few years

1) Unlikely
2) Irrelevant to the discussion thread anyway 

Bex_27

Did you manage to get anything sorted? We have served a Section 21 but have offered cash for keys to get out by the 30th November. Like you, we have our dream property lined out but my partners ex is having problems getting a mortgage, she has managed to get one but now needs the current tenant out.