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Landlord wants to sell

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13

Comments

  • m0bov
    m0bov Posts: 2,710 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    m0bov said:
    You don't have to let them into YOUR home.
    It is not the tenant's home, it's the landlady's home

    Your very wrong and this attitude is just giving ll a bad name.
  • m0bov
    m0bov Posts: 2,710 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    astroL said:
    Stubod said:
    A lot of landlords are looking to get out, could be they just want to cash in their asset and sell it with a sitting tennant. It does not look like they have given you any indication that they want you to vacate?
    No indication..... Just a text saying she needs to sell and sorry for causing any stress..... anxiety is through the roof right now

    Just so that you can understand the probable full situation:  my daughter is the landlady of a semi in East Anglia and can no longer afford to pay the mortgage and all the extra payments that go to keep a property fully licenced.  She therefore is going to have to sell the house.  She has had a good relationship with the tenants but the reality is that she can no longer afford to maintain the house.  She is very likely to have to sell it when the tenancy expires.  She has been extremely upset about this situation for weeks - so it is not just the tenant that might feel upset.  The national situation has caused many of the problems now faced by landlords/landladies.
    Quite an assumption to make.
  • Sistergold
    Sistergold Posts: 2,135 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper Photogenic
    I am sorry to hear that you have found yourself in this situation. If I were you I would find what my options are to find a suitable alternative accommodation before needing to be evicted. I know all is advice “sit tight”, “wait for section 21”, “it will have to go to court”. Yes it draws out the process and buys you more time but the stress is a lot. For me finding alternative accommodation is less stressful and most times the landlord is happy to let you make alternative arrangements. Yes when you rent it is your home but at the back of your mind when you need to move might not be in your control. Timing is not good but most things work out for our good. 
    Initial mortgage bal £487.5k, current £258k, target £243,750(halfway!)
    Mortgage start date first week of July 2019,
    Mortgage term 23yrs(end of June 2042🙇🏽♀️), 
    Target is to pay it off in 10years(by 2030🥳). 
    MFW#10 (2022/23 mfw#34)(2021 mfw#47)(2020 mfw#136)
    £12K in 2021 #54 (in 2020 #148)
    MFiT-T6#27
    To save £100K in 48months start 01/07/2020 Achieved 30/05/2023 👯♀️
    Am a single mom of 4. 
    Do not wait to buy a property, Buy a property and wait. 🤓
  • theartfullodger
    theartfullodger Posts: 15,709 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    edited 17 April at 8:47AM
    Olinda99 said:
    FlorayG said:
    m0bov said:
    You don't have to let them into YOUR home.
    It is not the tenant's home, it's the landlady's home

    Please do not become a landlord...
    very little likelyhood  of anyone becoming a landlord once the RR bill becomes law
    There are always and have always been people becoming landlords as well as not becoming landlords.  

    The landlord/tenant power pendulum has swung this way and that for ever - certainly since 1449 Leases Act (extra rights for tenants in this case).

    Low esteem of landlords largely continuing.

    Best wishes to all.
  • freesha
    freesha Posts: 430 Forumite
    Part of the Furniture 100 Posts Name Dropper
    silvercar said:
    saajan_12 said:
    How far is what you're paying vs what the market rent would be for a similar property? If its very low, its less likely your LL will find another LL buyer who's happy for you to stay. So either your rent would be increased or they'll be serving a S21 notice to eventually evict you. 

    So you need to start looking now, and get in touch with council too. 
    I am paying about £200 below the market rate and quite willing to pay a rent increase. I have been here for 18 years and all that time I have always paid my rent and never been in arrears.
    In your first post you say you can't afford the rent in the area. So which is it? If you can afford the market rate at £200 more than currently, you could find somewhere else to rent. If £200 increase is unaffordable then you need to assess what you want to do.

    Eventually the landlord will be able to evict. It could take time, it will be hassle for you, but it will happen. So you need to decide what you want to do. Speak to the council, put your name on the council waiting list. Look in cheaper areas nearby. 
    I can afford it if I dig into my savings but I am already doing that to pay my bills. At the moment I am receiving treatment for a serious health condition and not fit for work. I was also make redundant and have to claim Universal Credit. It is very difficult to find a place to rent when you are on benefits. When I am fit for work I will find another job... I am 60 so that's going to be another problem.

    I will contact the council to put me on the waiting list but the council won't do anything till I get evicted. Some people I know have been on the waiting list for over 2 years as with most parts of England there is not enough housing to go round.
    Contact all local HAs direct.
  • Bookworm225
    Bookworm225 Posts: 393 Forumite
    100 Posts Name Dropper
    astroL said:
    Stubod said:
    A lot of landlords are looking to get out, could be they just want to cash in their asset and sell it with a sitting tennant. It does not look like they have given you any indication that they want you to vacate?
    No indication..... Just a text saying she needs to sell and sorry for causing any stress..... anxiety is through the roof right now

    Just so that you can understand the probable full situation:  my daughter is the landlady of a semi in East Anglia and can no longer afford to pay the mortgage and all the extra payments that go to keep a property fully licenced.  She therefore is going to have to sell the house.  She has had a good relationship with the tenants but the reality is that she can no longer afford to maintain the house.  She is very likely to have to sell it when the tenancy expires.  She has been extremely upset about this situation for weeks - so it is not just the tenant that might feel upset.  The national situation has caused many of the problems now faced by landlords/landladies.
    I really do understand what you are saying, she said she held off for weeks before deciding that she is going to sell... she is a good landlady, any maintenance that needed do was done quickly and she said to me she can no longer afford it. I don't think really wanted to put the apartment on sale but she does not have a choice. I know it's not just me feeling stressed about it she must be too having to decide to sell in the first place.
    sounds like she isn't aware of her own options of selling with a tenant in situ to another landlord.

    that said, she may then very quickly decide not to given you are paying below market rate so she would probably not get as much money from sale to a LL as she would be selling with vacant possession

    after 18 years can you not have a conversation with her, rather than text messages? 
  • Jude57
    Jude57 Posts: 738 Forumite
    Ninth Anniversary 500 Posts Name Dropper
    silvercar said:
    saajan_12 said:
    How far is what you're paying vs what the market rent would be for a similar property? If its very low, its less likely your LL will find another LL buyer who's happy for you to stay. So either your rent would be increased or they'll be serving a S21 notice to eventually evict you. 

    So you need to start looking now, and get in touch with council too. 
    I am paying about £200 below the market rate and quite willing to pay a rent increase. I have been here for 18 years and all that time I have always paid my rent and never been in arrears.
    In your first post you say you can't afford the rent in the area. So which is it? If you can afford the market rate at £200 more than currently, you could find somewhere else to rent. If £200 increase is unaffordable then you need to assess what you want to do.

    Eventually the landlord will be able to evict. It could take time, it will be hassle for you, but it will happen. So you need to decide what you want to do. Speak to the council, put your name on the council waiting list. Look in cheaper areas nearby. 
    I can afford it if I dig into my savings but I am already doing that to pay my bills. At the moment I am receiving treatment for a serious health condition and not fit for work. I was also make redundant and have to claim Universal Credit. It is very difficult to find a place to rent when you are on benefits. When I am fit for work I will find another job... I am 60 so that's going to be another problem.

    I will contact the council to put me on the waiting list but the council won't do anything till I get evicted. Some people I know have been on the waiting list for over 2 years as with most parts of England there is not enough housing to go round.
    I echo the suggestion to contact local Housing Associations as well as the Council. In particular, you might want to look at housing specifically for either over-55s or over 60s. The benefits of such accommodation are that you'd have some security of tenure and have support on hand should you need it, while retaining your independence and your own front door. The downside is that, unlike privately rented accommodation, you'd need to install your own carpets and probably have to redecorate, too. You could try searching 'over 60s housing to rent near me' or have a look here:

    https://housingcare.org/mobile-find-accomodation/

    There's usually a shorter waiting list or faster turnover in age-restricted accommodation for obvious reasons and, depending where you are, there can be a fair number of such developments to consider. Some have actual waiting lists and some operate, like most Councils, a 'choice based' lettings system where you first have to qualify for housing, (for age-restricted housing the requirements are fairly basic) and once you meet those criteria, you have to 'bid' on available properties each week. The Council or Housing Associations should be able to walk you through their process so that you understand how it works.

    This type of accommodation doesn't usually require a deposit and will usually accept Local Housing Allowance (LHA) recipients. If you're applying for LHA, remember that you will only qualify for payment up to the level of need, rather than want, so as a single person of your age, you'd qualify for the one-bedroom rate set by your Council (in their role as LHA provider) and if you want more bedrooms, you'd have to pay to top up the amount of LHA you'd be entitled to. Councils, even for age-restricted accommodation, may have strict rules on who can apply for additional bedrooms so it's worth asking about that if it applies to you. Housing Associations may have more flexibility and if you can afford their slightly higher rents, you should have more choice, though two bedrooms are the most I've seen in age-restricted accommodation for rent in my area.

    If you haven't already done so, I'd recommend you check that you're claiming all benefits to which you're entitled. That's especially important at your age to ensure any gaps in your National Insurance record are kept to a minimum, so as to have as little impact on your State Pension as possible. Try completing the calculator here to get an idea of what you could claim:

    https://www.entitledto.co.uk/

    Good luck with everything.
  • saajan_12
    saajan_12 Posts: 5,089 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    saajan_12 said:
    How far is what you're paying vs what the market rent would be for a similar property? If its very low, its less likely your LL will find another LL buyer who's happy for you to stay. So either your rent would be increased or they'll be serving a S21 notice to eventually evict you. 

    So you need to start looking now, and get in touch with council too. 
    I am paying about £200 below the market rate and quite willing to pay a rent increase. I have been here for 18 years and all that time I have always paid my rent and never been in arrears.
    Would you be willing to pay £200 higher? If so, that's the market rent, so couldn't you instead pay that to another private landlord? 
  • Sistergold
    Sistergold Posts: 2,135 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper Photogenic
    edited 18 April at 9:07AM
    saajan_12 said:
    saajan_12 said:
    How far is what you're paying vs what the market rent would be for a similar property? If its very low, its less likely your LL will find another LL buyer who's happy for you to stay. So either your rent would be increased or they'll be serving a S21 notice to eventually evict you. 

    So you need to start looking now, and get in touch with council too. 
    I am paying about £200 below the market rate and quite willing to pay a rent increase. I have been here for 18 years and all that time I have always paid my rent and never been in arrears.
    Would you be willing to pay £200 higher? If so, that's the market rent, so couldn't you instead pay that to another private landlord? 
    Sometimes “you know you can afford the rent” but the whole affordability test sometimes says you can not afford the rent. If they say you need to earn £xx. Sometimes one affords just by prioritising roof over one’s head but leaves you tight everywhere else. As it’s difficult to evict no one wants a tenant who is left tight on funds due to rent. 
    Initial mortgage bal £487.5k, current £258k, target £243,750(halfway!)
    Mortgage start date first week of July 2019,
    Mortgage term 23yrs(end of June 2042🙇🏽♀️), 
    Target is to pay it off in 10years(by 2030🥳). 
    MFW#10 (2022/23 mfw#34)(2021 mfw#47)(2020 mfw#136)
    £12K in 2021 #54 (in 2020 #148)
    MFiT-T6#27
    To save £100K in 48months start 01/07/2020 Achieved 30/05/2023 👯♀️
    Am a single mom of 4. 
    Do not wait to buy a property, Buy a property and wait. 🤓
  • silvercar
    silvercar Posts: 49,628 Ambassador
    Part of the Furniture 10,000 Posts Academoney Grad Name Dropper
    saajan_12 said:
    saajan_12 said:
    How far is what you're paying vs what the market rent would be for a similar property? If its very low, its less likely your LL will find another LL buyer who's happy for you to stay. So either your rent would be increased or they'll be serving a S21 notice to eventually evict you. 

    So you need to start looking now, and get in touch with council too. 
    I am paying about £200 below the market rate and quite willing to pay a rent increase. I have been here for 18 years and all that time I have always paid my rent and never been in arrears.
    Would you be willing to pay £200 higher? If so, that's the market rent, so couldn't you instead pay that to another private landlord? 
    Sometimes “you know you can afford the rent” but the whole affordability test sometimes says you can not afford the rent. If they say you need to earn £xx. Sometimes one affords just by prioritising roof over one’s head but leaves you tight everywhere else. As it’s difficult to evict no one wants a tenant who is left tight on funds due to rent. 
    I would have thought it easier for an existing tenant who has never been in arrears to convince their current landlord that they will pay an increased rent than for them to convince a new landlord that they can afford to pay a rent that looks unaffordable on paper.
    I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
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