Worried about renting crisis

user67340348

MultiFuelBurner said:

If your landlord has a buy to let mortgage that is up for renewal in the next 12-17 months then yes they may well consider selling up as an extra £200 probably won't leave them with the return they need.

It sounds like you have a letting agent barrier so you can't ask your LL outright.

Do you think its worth me asking the letting agent if its likely the LL will sell up?

MultiFuelBurner

user19860331 said:

MultiFuelBurner said:

If your landlord has a buy to let mortgage that is up for renewal in the next 12-17 months then yes they may well consider selling up as an extra £200 probably won't leave them with the return they need.

It sounds like you have a letting agent barrier so you can't ask your LL outright.

Do you think its worth me asking the letting agent if its likely the LL will sell up?

No harm asking, make sure to say you want another 12 months but would like to know if circumstances are likely to change with your LL

MultiFuelBurner

Rents are astronomic at the moment but they don't tend to go down once they have gone up and with more and more LL's exiting the market it's not going to get any better soon.

born_again

If they are think of selling up, & you like the place as well as commutable to York, you could ask them about buying it.

RHemmings

Around my way, when I had to look for a new place to rent, I initially panicked because it looked like all the properties had too many people chasing them. But, by going to a bigger and more expensive place, I got one easy. Admittedly, if I was more financially constrained it would be more problematic. But, will the £800pcm you can afford put you in a less competitive part of the market? 

Once before I averted being asked to leave (already received S21 notice) by offering an increased rent from very small to small. It worked. S21 notice gone and I stayed for years longer. 

In my current property, after the first year the landlord wanted me to sign on for another whole year. We compromised on six months. Then after the six months I asked to go onto rolling, and the landlord has (seemingly grudgingly) accepted this. No sign of anything remotely resembling a S21 notice. 

Just my experiences. I hope that you find something that works for you. If I was in your situation, I would wait to see what happens (I guess: probably nothing), and offer £700pcm if there are noises about you leaving. You can always increase it. 

As mentioned above, if your LL is decided to leave the lettings market, then probably not much you can do. 

Jude57

user19860331 said:

MultiFuelBurner said:

If your landlord has a buy to let mortgage that is up for renewal in the next 12-17 months then yes they may well consider selling up as an extra £200 probably won't leave them with the return they need.

It sounds like you have a letting agent barrier so you can't ask your LL outright.

Do you think its worth me asking the letting agent if its likely the LL will sell up?

Forgive me if I'm mistaken, but it seems to me that you don't understand your rights as a tenant and I'm not sure previous replies have addressed the basics if that's true. Previous posters are correct to say that, short of getting a Court Order, your landlord cannot legally end your tenancy. Your landlord cannot prevent your Assured Shorthold Tenancy (AST) from becoming a Periodic Tenancy, that simply happens automatically if the landlord doesn't renew the AST. Even if your landlord does decide to sell up, that doesn't end your tenancy and unless he's met all the legal requirements of being a landlord, it's possible that any Notices served on you could be unenforceable. In effect, the new owner becomes your new landlord.

There's a sticky at the top of this sub-forum with guides for tenants which I'd recommend you read so that you have a better idea of your rights as a tenant.

jimbog

user19860331 said:

MultiFuelBurner said:

If your landlord has a buy to let mortgage that is up for renewal in the next 12-17 months then yes they may well consider selling up as an extra £200 probably won't leave them with the return they need.

It sounds like you have a letting agent barrier so you can't ask your LL outright.

Do you think its worth me asking the letting agent if its likely the LL will sell up?

Whereas you concern is understandable, I think you're making a problem where none exists. Asking your landlord (or getting your agent to ask your landlord) gives the impression you are half expecting (resigned to) leaving and it may plant a thought in their minds.

Even if they do sell, it doesn't change your tenancy - that continues. Indeed a new owner may be happy to have a tenant like you already in place

user67340348

Jude57 said:

user19860331 said:

MultiFuelBurner said:

If your landlord has a buy to let mortgage that is up for renewal in the next 12-17 months then yes they may well consider selling up as an extra £200 probably won't leave them with the return they need.

It sounds like you have a letting agent barrier so you can't ask your LL outright.

Do you think its worth me asking the letting agent if its likely the LL will sell up?

Forgive me if I'm mistaken, but it seems to me that you don't understand your rights as a tenant and I'm not sure previous replies have addressed the basics if that's true. Previous posters are correct to say that, short of getting a Court Order, your landlord cannot legally end your tenancy. Your landlord cannot prevent your Assured Shorthold Tenancy (AST) from becoming a Periodic Tenancy, that simply happens automatically if the landlord doesn't renew the AST. Even if your landlord does decide to sell up, that doesn't end your tenancy and unless he's met all the legal requirements of being a landlord, it's possible that any Notices served on you could be unenforceable. In effect, the new owner becomes your new landlord.

There's a sticky at the top of this sub-forum with guides for tenants which I'd recommend you read so that you have a better idea of your rights as a tenant.

Thanks but Im confused... if I take out a 12-month AST, and then it comes to the end of the 12 months, then I dont see why the LL couldnt just tell me to leave? How would that be illegal?

It happened to me once before, I took out a 6 month AST and then, after 4 months, I got told that the LL was selling the place and I would have to move out once it got to the 6-month mark

user67340348

jimbog said:

user19860331 said:

MultiFuelBurner said:

If your landlord has a buy to let mortgage that is up for renewal in the next 12-17 months then yes they may well consider selling up as an extra £200 probably won't leave them with the return they need.

It sounds like you have a letting agent barrier so you can't ask your LL outright.

Do you think its worth me asking the letting agent if its likely the LL will sell up?

Whereas you concern is understandable, I think you're making a problem where none exists. Asking your landlord (or getting your agent to ask your landlord) gives the impression you are half expecting (resigned to) leaving and it may plant a thought in their minds.

Even if they do sell, it doesn't change your tenancy - that continues. Indeed a new owner may be happy to have a tenant like you already in place

Thanks, I probably am worrying too much!

Yes I am thinking it might be better to not say anything as I dont wanna give them ideas (it might also encourage them to up the rent).

But who's to say the new owner (if it is sold) will consider letting it out? Maybe they would wanna live here themselves

Martico

user19860331 said:

Jude57 said:

user19860331 said:

MultiFuelBurner said:

If your landlord has a buy to let mortgage that is up for renewal in the next 12-17 months then yes they may well consider selling up as an extra £200 probably won't leave them with the return they need.

It sounds like you have a letting agent barrier so you can't ask your LL outright.

Do you think its worth me asking the letting agent if its likely the LL will sell up?

Forgive me if I'm mistaken, but it seems to me that you don't understand your rights as a tenant and I'm not sure previous replies have addressed the basics if that's true. Previous posters are correct to say that, short of getting a Court Order, your landlord cannot legally end your tenancy. Your landlord cannot prevent your Assured Shorthold Tenancy (AST) from becoming a Periodic Tenancy, that simply happens automatically if the landlord doesn't renew the AST. Even if your landlord does decide to sell up, that doesn't end your tenancy and unless he's met all the legal requirements of being a landlord, it's possible that any Notices served on you could be unenforceable. In effect, the new owner becomes your new landlord.

There's a sticky at the top of this sub-forum with guides for tenants which I'd recommend you read so that you have a better idea of your rights as a tenant.

Thanks but Im confused... if I take out a 12-month AST, and then it comes to the end of the 12 months, then I dont see why the LL couldnt just tell me to leave? How would that be illegal?

It's the law. A process has to be followed. Read this post, as advised