Is this normal for a tenant in situ?

a_fierce_bad_rabbit

There was a contract at the beginning but was never resigned over the years.
The rent went up last year slightly so something must exist.
It might be an idea for her to contact the owner and have a chat. She was reassured it was all ok but needs more info.

We wanted to know would a low rent house at a cheap price be attractive to anyone? I can't see how. 

She did chat to one potential buyer last week who said he was happy to keep things as they were until she moves out in a few years. Perhaps some are ok with that.

sammyjammy

You need to find out the answers to the tenancy questions, at least find out when she moved in, if you want further help.  I don't know why you think an old house with cheap rent won't be priced accordingly and attractive to many people, if the rent is way below market rate then expect it to be hiked immediately.  Have you looked to see what rents in the area are?

You really need to take no heed on what people say when they look around the house, even if they mean it doesn't mean they won't change their minds.  I think she needs to start planning what she'll do if she can't stay for long.

AlexMac

a_fierce_bad_rabbit said:

... The asking price is very low and the property is in, sadly, a now depressed area. 
What we want to know is, is it typical to have over 10 people per week wishing to view?
Is this type of property more desirable in the current market for some reason?...Why are so many potential buyers so interested in a run down property in an undesirable place with a sitting tenant?
Just wondering if this is normal?

Others above have addressed the crucial issue of whether the form of tenancy your friend has will give her reasonable security, but as regards your question
"why this run down tenanted property...?"

I have some anaecdotal (and possibly not very helpful?) experience.  I was vaguely interested in a similar run-down country property as we have grand-children near its location,100 miles away.  It had a "secure tenancy"; 

(see https://www.gov.uk/council-housing/types-of-tenancy#:~:text=Secure tenancy,the Right to Buy scheme)

... and although I'd have respected the right of the elderly tenant to live out their time in peace, I saw it as a potential long-term investment; for the kids, or even ourselves in our future twilight years.  I backed away when another local relative, a retired builder, went along for an external inspection said it was a real wreck, in a far less idyllic location than the photos promised.

It was up at auction with a guide price of £145k, but sold for an unbelievable £250k!

I was so surprised, I spoke again to the auctioneer.  He said that while they'd had lots of prior interest from time-wasters who didn't understand a secure tenancy, or worse, who thought they could Rachmann the poor tenant out of their home prior to re-development and re-sale.  However, in the end, it had gone to a corporate investor, who simply wanted to "maintain their portfolio of properties" and was in it for the long term.  

So let's hope your friend has equally secure occupancy and /or that the the viewers are just rubberneckers?  At best, it might even go to a professional investor?

I don't suppose you could rustle up a BTL to buy it yourself?

a_fierce_bad_rabbit

sammyjammy said:

You need to find out the answers to the tenancy questions, at least find out when she moved in, if you want further help.  I don't know why you think an old house with cheap rent won't be priced accordingly and attractive to many people, if the rent is way below market rate then expect it to be hiked immediately.  Have you looked to see what rents in the area are?

You really need to take no heed on what people say when they look around the house, even if they mean it doesn't mean they won't change their minds.  I think she needs to start planning what she'll do if she can't stay for long.

I will definitely send this for her to read, thank you.

a_fierce_bad_rabbit

AlexMac said:

a_fierce_bad_rabbit said:

... The asking price is very low and the property is in, sadly, a now depressed area. 
What we want to know is, is it typical to have over 10 people per week wishing to view?
Is this type of property more desirable in the current market for some reason?...Why are so many potential buyers so interested in a run down property in an undesirable place with a sitting tenant?
Just wondering if this is normal?

Others above have addressed the crucial issue of whether the form of tenancy your friend has will give her reasonable security, but as regards your question
"why this run down tenanted property...?"

I have some anaecdotal (and possibly not very helpful?) experience.  I was vaguely interested in a similar run-down country property as we have grand-children near its location,100 miles away.  It had a "secure tenancy"; 

(see https://www.gov.uk/council-housing/types-of-tenancy#:~:text=Secure tenancy,the Right to Buy scheme)

... and although I'd have respected the right of the elderly tenant to live out their time in peace, I saw it as a potential long-term investment; for the kids, or even ourselves in our future twilight years.  I backed away when another local relative, a retired builder, went along for an external inspection said it was a real wreck, in a far less idyllic location than the photos promised.

It was up at auction with a guide price of £145k, but sold for an unbelievable £250k!

I was so surprised, I spoke again to the auctioneer.  He said that while they'd had lots of prior interest from time-wasters who didn't understand a secure tenancy, or worse, who thought they could Rachmann the poor tenant out of their home prior to re-development and re-sale.  However, in the end, it had gone to a corporate investor, who simply wanted to "maintain their portfolio of properties" and was in it for the long term.  

So let's hope your friend has equally secure occupancy and /or that the the viewers are just rubberneckers?  At best, it might even go to a professional investor?

I don't suppose you could rustle up a BTL to buy it yourself?

Not in a position to buy it myself, but it is only 90K.
Some good info here, thanks.

The tenant only wishes to stay there for 2 years or so, so not long term. A few of the potential buyers did seem 'fine' with this, but like you say, we can't trust that implicitly. One told her the timing was great and they planned to refurbish once she had moved on. She does not want to remain there long term, so maybe that would suit some of them (??)

She was told by the agent that the contract specified that the buyer would have to allow her to remain for those years. I am going to presume we can't trust this info.

Will get her to contact owner regarding agreement.

canaldumidi

* The number of interested buyers suggests they are attracted by the low price, and are not put off by the tenancy as they believe they'll be able to evict her.

* whether they can evict her depends entirely on the type of tenancy she has. It is therefore vital to find out. The tenancy checker linked to by slithery earlier will tell you - once you have the relevant, exact, information:

Shelters tenancy checker...
https://england.shelter.org.uk/housing_advice/downloads_and_tools/tenancy_rights_checker

* meanwhile she does not have to put up with endless viewings. She should write to the landord, and copy the agent(s), telling them how many viewings (if any!) she is willing to accept, and between what hours (eg 3 - 4 in the afternoon or whatever is convenient to her).

* she should change the locks to ensure no agents bring buyers round outside those times. It's cheap and easy to change them (see below), but keep the old lock to put back later (as it belongs tothe landlord).

https://www.youtube.com/watch?v=VXAo7zSN-9o

theartfullodger

a_fierce_bad_rabbit said:

There was a contract at the beginning but was never resigned over the years.
................

Great, that's the one you need to see.  That tenancy continues, forever, as long as tenant remains in residence, unless landlord goes through court to evict.  It does not need to be resigned or renewed. When you've got a copy please tell us more about it - start date, frequency of rent payable (eg weekly, monthly..), how it describes itself...

If & when someone buys the place, that tenancy continues with the new owner becoming the new landlord.  He cannot make tenant sign any new tenancy, nor agree to any new terms, no any other changes but name of landlord.

Tiglet2

The agent won't really know the legal implications and will say whatever they 'think' you want to hear, but a two year contract won't be enforceable no matter the agent says.

As others have pointed out, if she has a "Secure Tenancy" rather than an "Assured Shorthold Tenancy", she will have far greater 'rights' and it would be very difficult for a landlord/owner to evict her.  These types of tenancies do typically have lower rents.  The date, which is important, is 15 January 1989.  If she moved in on or before this date, she will have a secure tenancy.  But the laws changed after this date, so it is very important to know which type she has.

a_fierce_bad_rabbit

I think she moved in around 1998.
No idea who has any original contract as the original owners died years ago and it was inherited, twice!

She needs to contact current owner.

a_fierce_bad_rabbit

Oh and the potential buyers are arriving alone, without agent. There are no viewings when tenant is out.