CASH INCENTIVE TO VACATE

[Deleted User]

https://forums.moneysavingexpert.com/discussion/6204127/please-help-im-running-out-of-options#latest

That above is my detailed thread. To keep this question short - How much do you reckon tenants might take to vacate a property now rather than go through the 6 months notice period. 

Rent is £850 a month. 

Would you vacate and move now for £10,200 ie a years rent? 

grumiofoundation

I certainly would.  

Assuming rentals are available in your area would be very surprised if they rejected. 

hazyjo

Absolutely! I think it's far too generous a starting point.

I would start with a very generous £4k and not really want to pay more than £8k.

Mind you, if they are considering buying if their credit's okay, it might be worth seeing how short they are on a deposit. For God's sake don't hand any money over before they're out though!

tom9980

I would start at £2000. 

[Deleted User]

Cheers 
The added difficulty here is that the tenants used to own the property and sold it to a buy and rent back company many years ago. The initial 5 years is long over so its just an AST now, but its been their home for many years and no doubt attached. Risk they take sure - but I need to be realistic to get them out. 

Hazyjo - as Power of Attorney, I’ll have a solicitor get them to sign a surrender and when they leave and I change the locks, the solicitor can release the money. 

I think then I’ll start at buying out the 6 months notice (£5100) and work from there. 

Comms69

I say 6 - 12 months rent. So yes.

Are you saying you have both power of attorney and a legal stake in the property? 

[Deleted User]

Comms69 said:

I say 6 - 12 months rent. So yes.

Are you saying you have both power of attorney and a legal stake in the property? 

I dont no - just his POA 
I'm doing it out of the goodness of my heart as at the end of the day, the guy is still my kids dad, and Im really the only one in the family able to sort all this mess out ! Its like a full time job  

Comms69

Not being awkward, but what's the relevance of changing locks etc then?

[Deleted User]

House will then have to go up for sale to settle the divorce with his ex wife ( the long weiry tale is on my other thread) 
Im guessing this is the order - 
Serve valid 6 months notice
cash temptation offered 
they accept ( or don’t ) - sign surrender agreement 
they leave 
solicitor sends them agreed funds 
locks changed
House put up for sale with vacant possession 
we both live an hour away from this property so needs to be secured up and agent handle viewings 

getmore4less

Remember they don't have to leave at the end of the 6 months notice.

 it could well be end of 2021 into 2022 to get them out

rentals in that area are £1k-£1.2k (if it is a 3 bed) 12months at £850 will cover 9 months

They may not be too keen since they owned the house previously and got a good price for it with reduced rent

Comms69

Densol said:

House will then have to go up for sale to settle the divorce with his ex wife ( the long weiry tale is on my other thread) 
Im guessing this is the order - 
Serve valid 6 months notice
cash temptation offered 
they accept ( or don’t ) - sign surrender agreement 
they leave 
solicitor sends them agreed funds 
locks changed
House put up for sale with vacant possession 
we both live an hour away from this property so needs to be secured up and agent handle viewings 

But you said the house was already sold to a buy and rent back firm?