Cash gift offer to vacate rented property early

GFBunn

Hello MoneySavers

A couple of weeks ago I received my Section 21 notice as the property I rent has been sold, with an assurance that if I were to find a place to go beforehand the landlords would be fine with less than a month's notice. I said ok much appreciated, but haven't looked for anywhere else yet, and have now been offered a tidy sum if I vacated a few weeks early. If I did so it'd cost the landlords a four figure sum after adding the rent they wouldn't receive. I'd be silly to refuse, am just wondering what the angle is. There were only 3 viewings and the house sold within a couple of weeks, after a survey and damp and wood specialist visited (it's a very old house). The buyers do have a mortgage but I'm surprised 24 days makes that much of a difference.

I think I need to get in writing ie an email from the estate agent that I'd need to pay only a pro rata figure on my final rental date and receive the cash gift from the landlord when I hand back the keys, would people agree? I have no reason to question the integrity or motives of the agent or landlords, just think I'd need something more than a phone call when such a large figure is involved.

Thanks for any input

Exodi

If you read other threads on this forum, you'd be amazed at the difference in selling a house with vacant posession and a house with tenants (intended for vacant posession).

As you can appreciate, most buyers are very hesitant to proceed on a house with tenants in, in case the tenants do not move out when agreed.

The landlord is likely very aware that they will only be able to proceed with a buyer when you're out of the house.

If you need more reassurance, ask that the offer is put on an email so you have a record.

newsgroupmonkey_

On this forum, we recommend never spending any money on a property before tenants have left.

There are 2 ways that tenants end their contract. One is that they leave of their own choice.

The other is that a court appointed bailiff forces them to leave. Despite what the S21 says, it is not a notice to leave. It is a notice of intention to apply for repossession of the property.

In scenario 1 above, it's great. Tenant leaves, deposit gets sorted either way, Landlord gets property back. Most tenancies end this way.

Scenario 2, there's 2 months before the LL can apply to the court. Unless they go for accelerated possession, there's a 6-12 month backlog in the courts. At which point the judge may well then instruct the tenant to leave in 6 weeks.

Scenario 2 not only means a sale is unlikely to happen (buyer will pull out because of timeframe), but it's also very expensive, even if the Landlord can manage to get their costs back.

I think there's generally a happy point where the tenant is prepared to take a backhander (I think 6 weeks rent is a good start). It's a win-win for everyone if the Landlord wants the place empty and quickly.

Take the money! It's genuinely free cash!

Also ensure that you'll get your deposit back too (if there are damages or genuine dirt, then negotiate them obviously, it's not fair to leave the LL with a broken property, but in this case, a few weeds in the garden or a bit of dust can be overlooked)

canaldumidi

As explained, it could take the LL months(6? 9?) to evict you if you stay put. That will lose them their buyer - hence the offer of cash if you leave.

Make sure any agreement is in writing and is very clear

* date you will surrender tenancy

* rent charged pro rata to that date

* cash incentive

Your problem might be that the LL won't want to pay you before you leave (for obvious reasons!), but equally if he fails to pay you after, the agreement will be hard to enforce.....

user1977

For the avoidance of doubt, it isn't a "gift" - it's the price they're paying you in return for the early surrender of your tenancy.

housebuyer143

It's the price they are paying to get you out. Worked in a letting agent once with a problem tenant who wouldn't pay the rent. Was in 3 months arrears. 
Knocked on the door, no answer. Wrote a note saying if she left within one week, all her arrears would be wiped and she would be given £1000. 
She was gone by the end of the week. Sometimes it's the price you pay for an easy life.

theartfullodger

I'd want £5k minimum.  And if the greedy landlord argued, I'd bump the price up £1k each time he argued.

Thatcher's 1988 Housing Act Section 5(1) makes clear landlord can only evict you by...
a) Validly (how served..) serving a valid s21 notice (many are invalid - see....
https://nearlylegal.co.uk/section-21-flowchart/
b) s21 expires..
c) Landlord applies to court..
d) Court review (you get to put forward your argument e.g. the notice if rubbish..)
e) Court decision & issuing of possession order (if all steps jumped successfully)
f) PO expires..
g) Landlord requests bailiffs or HCEOs...
h) You are notified of bailiffs or HCEOs..
i) Bailiffs/HCEO turn up & evict.

(Did I forget anything people, please???)


Probably 6-9 months, and tenant may appeal up until bailiffs walk up garden path. Quite right too.

Artful: Evil capitalist landlord (apologies..)

NB Will you need a reference??

newsgroupmonkey_

theartfullodger said:

I'd want £5k minimum.  And if the greedy landlord argued, I'd bump the price up £1k each time he argued.

Thatcher's 1988 Housing Act Section 5(1) makes clear landlord can only evict you by...
a) Validly (how served..) serving a valid s21 notice (many are invalid - see....
https://nearlylegal.co.uk/section-21-flowchart/
b) s21 expires..
c) Landlord applies to court..
d) Court review (you get to put forward your argument e.g. the notice if rubbish..)
e) Court decision & issuing of possession order (if all steps jumped successfully)
f) PO expires..
g) Landlord requests bailiffs or HCEOs...
h) You are notified of bailiffs or HCEOs..
i) Bailiffs/HCEO turn up & evict.

(Did I forget anything people, please???)


Probably 6-9 months, and tenant may appeal up until bailiffs walk up garden path. Quite right too.

Artful: Evil capitalist landlord (apologies..)

NB Will you need a reference??

So basically what I said in a sentence

saajan_12

GFBunn said:

Hello MoneySavers

A couple of weeks ago I received my Section 21 notice as the property I rent has been sold, with an assurance that if I were to find a place to go beforehand the landlords would be fine with less than a month's notice. I said ok much appreciated, but haven't looked for anywhere else yet, and have now been offered a tidy sum if I vacated a few weeks early. If I did so it'd cost the landlords a four figure sum after adding the rent they wouldn't receive. I'd be silly to refuse, am just wondering what the angle is. There were only 3 viewings and the house sold within a couple of weeks, after a survey and damp and wood specialist visited (it's a very old house). The buyers do have a mortgage but I'm surprised 24 days makes that much of a difference. - its not only a difference of 24 days.. after the notice expires, the LL has to go to court, wait for a hearing, get bailiffs etc. Those costs are claimable from you, but it still takes months. 

I think I need to get in writing ie an email from the estate agent that I'd need to pay only a pro rata figure on my final rental date and receive the cash gift from the landlord when I hand back the keys, would people agree? I have no reason to question the integrity or motives of the agent or landlords, just think I'd need something more than a phone call when such a large figure is involved. - yes, get a simple agreement written up saying you'll leave on X date, what rent you'll pay, property damages claimable from deposit as usual, and the amount+date of the incentive payment from the LL. Its not a gift (unenforceable) but rather a payment for you agreeing to leave early (enforceable). 

Thanks for any input

If you'll be able to find somewhere in time and not overpay too much if its last minute, then I'd suggest taking it. The alternative ie Section 21 and eviction etc means
* For LL, a long delay to go through courts and risk if they lose their buyer, have to remarket etc -> hence the payment. But there will be a limit where its more worthwhile to evict and then remarket later if it sold so easily this time. 
* For you, its more time to find another rental (if you actually need it?), but you have to pay the court costs and don't get the incentive. 

[Deleted User]

theartfullodger said:

I'd want £5k minimum.  And if the greedy landlord argued, I'd bump the price up £1k each time he argued.

Thatcher's 1988 Housing Act Section 5(1) makes clear landlord can only evict you by...
a) Validly (how served..) serving a valid s21 notice (many are invalid - see....
https://nearlylegal.co.uk/section-21-flowchart/
b) s21 expires..
c) Landlord applies to court..
d) Court review (you get to put forward your argument e.g. the notice if rubbish..)
e) Court decision & issuing of possession order (if all steps jumped successfully)
f) PO expires..
g) Landlord requests bailiffs or HCEOs...
h) You are notified of bailiffs or HCEOs..
i) Bailiffs/HCEO turn up & evict.

(Did I forget anything people, please???)


Probably 6-9 months, and tenant may appeal up until bailiffs walk up garden path. Quite right too.

Artful: Evil capitalist landlord (apologies..)

NB Will you need a reference??

And I would tell you that you have overplayed your hand, proceed with the section 21, and refuse a reference.

Slithery

[Deleted User] said:

theartfullodger said:

I'd want £5k minimum.  And if the greedy landlord argued, I'd bump the price up £1k each time he argued.

Thatcher's 1988 Housing Act Section 5(1) makes clear landlord can only evict you by...
a) Validly (how served..) serving a valid s21 notice (many are invalid - see....
https://nearlylegal.co.uk/section-21-flowchart/
b) s21 expires..
c) Landlord applies to court..
d) Court review (you get to put forward your argument e.g. the notice if rubbish..)
e) Court decision & issuing of possession order (if all steps jumped successfully)
f) PO expires..
g) Landlord requests bailiffs or HCEOs...
h) You are notified of bailiffs or HCEOs..
i) Bailiffs/HCEO turn up & evict.

(Did I forget anything people, please???)


Probably 6-9 months, and tenant may appeal up until bailiffs walk up garden path. Quite right too.

Artful: Evil capitalist landlord (apologies..)

NB Will you need a reference??

And I would tell you that you have overplayed your hand, proceed with the section 21, and refuse a reference.

And risk your current buyers pulling out as well as not being able to get vacant possesion for another year?