Landlord selling the house with us in?

BlueJ94

As the title says, I was informed today that the landlord is selling the house to another landlord with us in. I’m not too worried about this but I’m just curious as to what happens next, im expecting rent to increase as it’s pretty low where I’m at now. It’s never changed in the 8 years I’ve rented it. 

Just after some advice and tips on what to look out for etc?

diystarter7

Hi

Most likely yes. The can also ask you to leave, ie everything the previous LL could do and could even resell again, their property, their choice.
I'm assuming they bought with the intention of keep on renting it/investment and you are good T's but IMO they will raise the rent.

Good luck

BlueJ94

I assumed this, I don’t mind the rent increasing etc as that’s expected. I’m more worried about them asking us to leave! 

Thank you 

diystarter7

BlueJ94 said:

I assumed this, I don’t mind the rent increasing etc as that’s expected. I’m more worried about them asking us to leave! 

Thank you 

I doubt it but you never know.
Wait and see I guess but why not pick the brains of you present LL they may have a better idea re the new LL goals.
If you want to stay on, seek 12 month's AST

We bought a property with a sitting T - he decided to leave after about 18 months half way through the 12 month agreement approaced us and we let him go penantly free - we totally refurbed the house, did it slowly as we worked at the time and were unsure  - the we decided to rent it out and the T's been there 6 years only increased their rent once, we live in London and their rent is really low and will be increasing it but below market values and see what they say as we dont want to lose them as they keep the property like we would
Good luck.

macman

The rent can only increase if you are no longer in a fixed term tenancy, and proper notice must be given after service of an S13.. Subject to that, if the rent has been 8 years since last reviewed, it's inevitable that the new LL will seek to regularise it.
Upon sale, the new owner simply inherits the existing tenancy agreement and everything continues as before-you just pay your rent to a different account.
As above, if you want some security, ask your present LL for a 6 or 12m fixed term tenancy before they sell.
I hope you got the owner's approval for the 'refurbs' you have carried out at your own expense?

BlueJ94

diystarter7 said:

BlueJ94 said:

I assumed this, I don’t mind the rent increasing etc as that’s expected. I’m more worried about them asking us to leave! 

Thank you 

I doubt it but you never know.
Wait and see I guess but why not pick the brains of you present LL they may have a better idea re the new LL goals.
If you want to stay on, seek 12 month's AST

We bought a property with a sitting T - he decided to leave after about 18 months half way through the 12 month agreement approaced us and we let him go penantly free - we totally refurbed the house, did it slowly as we worked at the time and were unsure  - the we decided to rent it out and the T's been there 6 years only increased their rent once, we live in London and their rent is really low and will be increasing it but below market values and see what they say as we dont want to lose them as they keep the property like we would
Good luck.

In the 8 years I’ve lived here I’ve not once met or spoken to the Landlord and he’s avoided fixing the leak in the roof for the past two years!! So hoping the new landlord will be much better, we’ve spent loads on the house refurbishing it etc so hopefully when they see the photos of the place before and after they’ll realise we’re really good tenants 

user1977

What might happen to you is no more and no less than what might happen if your current landlord didn't sell - the change of landlord doesn't in itself make a legal difference to your rights. Yes, they might want to increase the rent, or to kick you out. Though if they wanted a vacant property, they'd probably go and buy one, rather than take on the hassle and risk of giving notice and evicting you after they buy.

propertyrental

Nothing changes except you will pay your rent to a new landlord - assuming he abides by his obligations under the  Landlord & Tenant Act 1985  S3:

3 Duty to inform tenant of assignment of landlord’s interest.

(1)If the interest of the landlord under a tenancy of premises which consist of or include a dwelling is assigned, the new landlord shall give notice in writing of the assignment, and of his name and address, to the tenant not later than the next day on which rent is payable under the tenancy or, if that is within two months of the assignment, the end of that period of two months.

(2)If trustees consititute the new landlord, a collective description of the trustes as the trustees of the trust in question may be given as the name of the landlord, and where such a collective description is given—
(a)the address of the new landlord may be given as the address from which the affairs of the trust are conducted, and

(b)a change in the persons who are for the time being the trustees of the trust shall not be treated as an assignment of the interest of the landlord.

(3)A person who is the new landlord under a tenancy falling within subsection (1) and who fails, without reasonable excuse to give the notice required by that subsection, commits a summary offence and is liable on conviction to a fine not exceeding level 4 on the standard scale.

In terms of either potential eviction, or rent increase, the legal position is unchanged from before. If the previous LL could have evicted you or raised the rent, so could the new LL. If you had security from eviction or rent increase, you still do.

So. Much depends on a) whether you have a fixed term or periodic (rolling) tenancy, and b) what your tenancy agreement says (eg regarding rent rises).

See

Post 4: Ending/renewing an AST: what happens when a fixed term ends? How can a LL or tenant end a tenancy? What is a periodic tenancy?

Post 5: Rent increases: when & how can rent be increased?

elsien

BlueJ94 said:

I assumed this, I don’t mind the rent increasing etc as that’s expected. I’m more worried about them asking us to leave! 

Thank you 

They can ask, but you don't have to go, or not in the short term anyway. 
They would need to follow exactly the same processes as your current landlord if they decided they wanted to end the tenancy - S21 processes presuming AST and no rent arrears, then court if you didn't shift of your own accord. 
It would seem odd though a landlord buying a tenanted property then promptly trying to evict the tenant. 

diystarter7

BlueJ94 said:

diystarter7 said:

BlueJ94 said:

I assumed this, I don’t mind the rent increasing etc as that’s expected. I’m more worried about them asking us to leave! 

Thank you 

I doubt it but you never know.
Wait and see I guess but why not pick the brains of you present LL they may have a better idea re the new LL goals.
If you want to stay on, seek 12 month's AST

We bought a property with a sitting T - he decided to leave after about 18 months half way through the 12 month agreement approaced us and we let him go penantly free - we totally refurbed the house, did it slowly as we worked at the time and were unsure  - the we decided to rent it out and the T's been there 6 years only increased their rent once, we live in London and their rent is really low and will be increasing it but below market values and see what they say as we dont want to lose them as they keep the property like we would
Good luck.

In the 8 years I’ve lived here I’ve not once met or spoken to the Landlord and he’s avoided fixing the leak in the roof for the past two years!! So hoping the new landlord will be much better, we’ve spent loads on the house refurbishing it etc so hopefully when they see the photos of the place before and after they’ll realise we’re really good tenants 

Hi again

Based on that, I am safely guessing the new one will want to fix, possibly refurb and at the first opportunity raise the rent.
However, some may want to buy a property like yours that has not been updated for at least 8 yrs judging by what you are saying and leaks etc. You have also said rents not gone up in 8 years. That is a lot of rent so the new LL is most likely to want to refurb and massively increase the rent. However, just as equally they may just do the necessary and increase the rent by a fair amount a little lower than the going rate.

No one knows, not you not even the new buyer as circumstances could change. Anyone  saying the cant really see it happening dont realise that circumstances can change for anyone inc you.

Some may wrongly assume its not done ie a new owner buys with a sitting T and does not want to sell - it happens for reasons stated as above and more.


However, easier said than done, try not to worry, easier said than done but what will happen, will happen. As I said, even you may decide to leave as better pay or some other windfall etc, etc
Good luck

ps - when does your current AST end? At least you have that time to consider but like i said, try and speak with the current LL or LA to see if anyone can give you a hint but things can change either way.

Alderbank

elsien said:

BlueJ94 said:

I assumed this, I don’t mind the rent increasing etc as that’s expected. I’m more worried about them asking us to leave! 

Thank you 

It would seem odd though a landlord buying a tenanted property then promptly trying to evict the tenant. 

Quite often a property is worth more with vacant possession.