Sitting tenant hoping to buy their rental

Fluffyslippers25

I’m hoping to buy my rental property. I’ve been here almost 3 years. Decent landlord, renting their former family home. He’d be happy for me to buy subject to an agreed price. Question for the forum…. Can the rent I’ve paid during my tenancy to date be offset or negotiated into the price for the property in some way as it a fair amount (or at least it is to me). Thanks.

motorman99

You can ask, but realistically no. 

And I don’t think you’re a sitting tenant, you’re just a tenant. 

Olinda99

No that was rent for living there

theartfullodger

Which country ?? (eg NI, Wales????) The law varies.

Doubt it very much.  Why would any rational landlord give ( GIVE!!!! ) you thousands of £££ rather then sell for more to someone (anyone) else.. 

But yes, you could ask.  Suggest you've lined up a solicitor, a mortgage and have a brief list of any other questions needing asking before you go that way. And offer whatever would help (eg vary fast purchase - say complete within a week, surveys already done etc etc etc..)

"Sitting tenant|" in england is usually taken to mean someone on a tenancy started before 1989 - see...
https://england.shelter.org.uk/housing_advice/private_renting/regulated_tenancies

user1977

theartfullodger said:

Which country ?? (eg NI, Wales????) The law varies.

Not in any way which is relevant to the question.

theartfullodger

user1977 said:

theartfullodger said:

Which country ?? (eg NI, Wales????) The law varies.

Not in any way which is relevant to the question.

The buying process and laws governing vary by country.

jimbog

You can ask - but I would phrase it along the lines of them not having to pay estate agent fees.

The risk of asking previous rental payments to act as a discount would be to seriously annoy your landlord who might be wary that you will other expectations further down the line. If he was to choose to sell it through an estate agent on the open market would you be able to afford it? Might there be a bidding war? If you are unsuccessful would looking for another rental be difficult?

user1977

theartfullodger said:

user1977 said:

theartfullodger said:

Which country ?? (eg NI, Wales????) The law varies.

Not in any way which is relevant to the question.

The buying process and laws governing vary by country.

Yes, I know that. But no jurisdiction provides for any sort of "right to buy" discount in relation to private rentals.

saajan_12

The rent you've paid so far is not really relevant, as the LL had interest, insurance, managment, repairs, etc costs during that time. Even if they didn't have a mortgage for all or part of the property, they had capital invested in the property which would have made a return invested elsewhere. 

From the LL's perspective, that's what your rent was covering, which is all "gone". 
From your perspective, it paid for accommodation for a period when you had zero capital invested (deposit was building and earning interest, you didn't have a mortgage etc). 

MEM62

I can't see why the seller would agree to that - particularly as he would have paid tax on that money and had other expenses with respect to managing and maintaining the property.   Are you expecting him to give it away?

Smalltownhypocrite

'Rent to buy' IS a thing although rare, you pay rent which builds up and then acts as a deposit however surely that would have to have been the agreement at the START of your tenancy not now.

Its usually used on 'abnormal' houses/situations, there was one near us that was in uninhabitable condition and failed to sell despite being marketed over a year and was offered as 'rent to buy'. It came with the clear instruction that the renter had to do it up to livable standard themselves and pay rent for cant remember if it was 3 or 5 years and if those two things where achieved they would apparently get the rent back as a deposit for mortgage. I think the council had orders on it to be fixed and the owner couldn't do it but its the only one I have seen in real life. Most people would be warey doing work to a property that belongs to someone else and I have no idea the legalities of renting an uninhabitable property like that.

In your case it sounds like you just rented a house on a standard tenancy though so that money is just gone, you paid for use and got it as per your contract.