Moving to flat

Slithery

GTR_King said:

February time this year the tenants said they didn't wanna extent contract as found house they like and made offer (Tenancy ended 30th June)

The tenancy didn't end on the 30th June - all that happened is that the fixed term expired meaning that the tenancy now continues on a periodic basis.
Your mother has no legal right to end the tenancy as this can only be done by either the courts or the tenants. I suggest you read...
Ending/renewing an AST

6 months isn't an unusual timescale at all for a property purchase.

MaryNB

GTR_King said:

yeah she dose know that not clued up on this stuff lol 

but if it fails through they will most likely leave to another rented property and mum not gonna extend tenancy as I don't really wanna wit another 7-8 months to year if that's the case will look else where at worst case scenario 

She's doesn't have to extend the tenancy, it automatically continues as a rolling monthly tenancy until it is ended by the tenants or a court.

What she can do is issue an s21 notice which basically says she would like the property back it two months. If they don't leave by the end of the notice she can then go to court for an eviction order which will take several more months. 

The problem for them moving to another rental is that they'll likely have to sign up to another minimum 6 to 12 month tenancy which will make it very difficult for them to try and buy a different property. Where I live people are really struggling to find anywhere to rent. Short term rentals are much more expensive and they may not want to go down that route. 

GTR_King

Slithery said:

GTR_King said:

Need advice/tips guys 

I am 32 (23rd August) still living at home with mum (Hoping to move out soon)

So around December time last year mum told me that her tenants were thinking of leaving in 2022 to buy a house, Would you be interested in moving into the flat rent (Family rate) I agreed as thought it would be a good idea, 

February time this year the tenants said they didn't wanna extent contract as found house they like and made offer (Tenancy ended 30th June) 

Since then offer has been accept (Late Feb/Early March 2022) conveyancing/all other checks all been done, just been told Tuesday last week (letting agent) they waiting for exchange now nearly end of July 2022 no word of if they gonna pay for another month yet mum gonna chase it up, she don't wanna go to legal preceding route 

This will be first tine living on my own and I am eager to get into the flat measure the rooms and start buying stuff planning where things are going etc, (Mum owns flat been in years ago to help her out when a tenant left) 

Is this normal to take this long to buy a house 5-6 months I don't wanna be waiting another 2-3 months to move out and if deal falls through then feel like it will be back to square one as tenants will want easy option of extending agreement. 

am I being too impatient or should I just wait it out, etc 

The tenancy didn't end - all that happened is that the fixed term expired meaning that the tenancy now continues on a periodic basis.
Your mother has no legal right to end the tenancy as this can only be done by either the courts or the tenants. I suggest you read...
Ending/renewing an AST

6 months isn't an unusual timescale at all for a property purchase.

Thank you didn't know that. 

the tenants did say they would leave whether the house sale goes through or fails or not. 

we only doing legal route as very last resort 

GTR_King

MaryNB said:

GTR_King said:

yeah she dose know that not clued up on this stuff lol 

but if it fails through they will most likely leave to another rented property and mum not gonna extend tenancy as I don't really wanna wit another 7-8 months to year if that's the case will look else where at worst case scenario 

She's doesn't have to extend the tenancy, it automatically continues as a rolling monthly tenancy until it is ended by the tenants or a court.

What she can do is issue an s21 notice which basically says she would like the property back it two months. If they don't leave by the end of the notice she can then go to court for an eviction order which will take several more months. 

The problem for them moving to another rental is that they'll likely have to sign up to another minimum 6 to 12 month tenancy which will make it very difficult for them to try and buy a different property. Where I live people are really struggling to find anywhere to rent. Short term rentals are much more expensive and they may not want to go down that route. 

thank you soo much dose make sense now..

In the next year or 2 mum wanna sell house we living in now and move into the flat with me for few months whilst she buys house with her partner that's the plan, worst case scenario will look for another flat if tenants gonna be in there for another 6 months to a year 

S21 Is last resort but I am sure it will all be fine in the end 

TripleH

Use the time to adjust your spending to fit the new flat. Setup a savings account and put difference between current rent/council tax / heating & light / insurance costs etc and what you think they'll be in the new place.

That way once you do move in, you will be used to the cost of your new lifestyle and what you save can be spent on doing the place up etc.

It was a shock for me when I moved into my own place suddenly finding out how little money I had and I struggled to afford to make my place how I wanted it.

This way you turn a negative into a positive.

GTR_King

TripleH said:

Use the time to adjust your spending to fit the new flat. Setup a savings account and put difference between current rent/council tax / heating & light / insurance costs etc and what you think they'll be in the new place.

That way once you do move in, you will be used to the cost of your new lifestyle and what you save can be spent on doing the place up etc.

It was a shock for me when I moved into my own place suddenly finding out how little money I had and I struggled to afford to make my place how I wanted it.

This way you turn a negative into a positive.

Thank you 😊

I am gonna have accounts for 
Rent 
Bills (All Direct debits/standing orders)
Food 
spending 
Car

So when I get paid each month will transfer all the money need to each account then what’s left will be my spending money,

I got enough money saved so gonna buy everything I need/want for the flat & will be paying Family rate so will see what I can afford 

TripleH

If you don't spend on the flat it's an instant rainy day fund.

It's ultimately getting something positive out of having a longer wait.

GTR_King

TripleH said:

If you don't spend on the flat it's an instant rainy day fund.

It's ultimately getting something positive out of having a longer wait.

So true thanks for reply just a waiting game now 

AlexMac

GTR_King said:

TripleH said:

Use the time to adjust your spending to fit the new flat. Setup a savings account and put difference between current rent/council tax / heating & light / insurance costs etc and what you think they'll be in the new place.

... I struggled to afford to make my place how I wanted it...

Thank you 😊
I am gonna have accounts for 
Rent 
Bills (All Direct debits/standing orders)
Food 
spending 
Car

So when I get paid each month will transfer all the money need to each account then what’s left will be my spending money,
I got enough money saved so gonna buy everything I need/want for the flat & will be paying Family rate so will see what I can afford 

Brilliant advice from TripleH, and great that you're on the case. Your story chimes with us, in that a few years ago, our grand daughter (then in her early 20's) asked if she could move in as tenant to a rental flat which we've owned for 25 years when next it came vacant. 

She came to us really well-prepared, with a spreadsheet showing that she could afford a "soft" rent (£800 per month!) and all the other running costs IF she took in a lodger to the second bedroom, bless her!

She's been a terrific tenant; pays on time, and even gave us the lodger's half of the rent when COVID meant that she got made redundant after a period of Furlough in 2019; luckily she got another good job within a couple of months.  

Good for her, and good for us to know she's living independently.  It's even worked out well with the lodger; a teacher in a local school. So, although I know it must seem frustrating having to wait a few more months, I hope it works equally well for you. 

We still pay the £1k-odd annual service charges for buildings insurance and freeholder repairs to the block; but we declare the profit on the rental income (after costs such as Service Charges & repairs)  to the taxman, so that's tax-efficient for us.  Not your problem really!

Good luck to you.  We are also pleased for her because the way property prices have gone in London (and elsewhere),  she won't be able to afford to buy a place til we snuff it, and we'd rather she enjoyed her independence now! 

GTR_King

I am from Suffolk & wouldn’t be able to afford normal rent costs £600+ but I am getting family rate & will always pay 1st day each month on time,

The only thing I am never giving up is Sky Sports F1 & football season ticket other stuff not fussed about. 

I have already done a budget on what my out goings will roughly look like etc will do again once I got the keys etc, 

gonna transfer a Lump sum of money to one of my accounts let’s say for example 2.5k (Not actual amount) will use that to buy everything I need what’s left over will put back into my savings/HTB ISA 

For example on last working day of the month when I get paid I will transfer set amount to Bills Rent Food Petrol Bank accounts to cover the cost for each month what’s left will be my spending money for takeaways meals out video games etc 

Realistically there's a good chance I might not move in till October/November time, as buying a house could take up to 6 months there offer got accept March and if they move out late August/early september we then wanna decorate house via professionals so might not be available to paint the house for a few weeks to a month and if deals falls through they might not move out till October due to the S21 2 months rule. I just gotta wait it out lol  

will keep you guys updated and thanks for the reply