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Landlord wanting to end tenancy to sell their property
Shankers
Posts: 92 Forumite
Good evening.
We've let out our house to the same tenants since 2018. After the first six months, we've renewed the tenancy annually. The tenancy's up at the end of Feb 2022, but our fixed rate mortgage is up in August 2022. We're in work-based accommodation at the moment but we'd like to buy our own house close to work (the house we're letting is too far from work). Ideally, we'd like to renew the tenancy for 6 months so it expires at the end of August 2022. My questions are:
i) Is it possible (and normal) for landlords to reduce tenancy renewals from 12 months to 6 months?
ii) What kind of notice would we need to give our tenants for them to leave? Am I right in thinking currently it's six months due to Covid, but normally for an AST it's 2 months?
iii) If it is six months' notice and this continues for a while longer, would we have to negotiate the tenancy renewal in December 2021, extend the tenancy in February and then give notice straight away if we want the tenants to leave at the end of August so we can put the house on the market shortly after?
Many thanks in advance for help with these questions!
We've let out our house to the same tenants since 2018. After the first six months, we've renewed the tenancy annually. The tenancy's up at the end of Feb 2022, but our fixed rate mortgage is up in August 2022. We're in work-based accommodation at the moment but we'd like to buy our own house close to work (the house we're letting is too far from work). Ideally, we'd like to renew the tenancy for 6 months so it expires at the end of August 2022. My questions are:
i) Is it possible (and normal) for landlords to reduce tenancy renewals from 12 months to 6 months?
ii) What kind of notice would we need to give our tenants for them to leave? Am I right in thinking currently it's six months due to Covid, but normally for an AST it's 2 months?
iii) If it is six months' notice and this continues for a while longer, would we have to negotiate the tenancy renewal in December 2021, extend the tenancy in February and then give notice straight away if we want the tenants to leave at the end of August so we can put the house on the market shortly after?
Many thanks in advance for help with these questions!
0
Comments
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You do not have to renew the tenancy. Just let it continue as an SPT.
In a year’s time it is likely that notice will be back to two months and the eviction backlog will be reduced.
however, your notice is nothing more than a request, so you may wish to discuss your plans with your tenant so they have enough time to plan their departure without all the hassle if you needing to evict them.2 -
A basic point that you may well be aware of - if you issue notice to expire August 2022, you cannot guarantee that they will leave in August 2022. Even in non-Covid court-and-bailiff-backlog times, you may not recover your property for ~6 months past that date if they are unwilling or unable to move on.
So don't try to plan things down to the month if you're working to any kind of deadline here.
Otherwise, as spiderlegs says, just allow it to move onto an SPT. Use a Section 13 if you want to adjust the rent in the meantime.
2 -
If you mention your plans now to your tenants it gives them time to prepare their position if they might want to buy the house off you.
But a banker, engaged at enormous expense,Had the whole of their cash in his care.
Lewis Carroll1 -
Many thanks for the replies so far. All makes sense0
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Make sure everything you do as a Landlord is correct ?
EICR GSC EPC ???
Deposit Information/protected and prescribed information ?
Paperwork 100% spot on or your S21 maybe invalid2
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