Should I sell or risk tenants buying at undervalue price?9:08 AM, 25th September 2019
About 3 weeks ago 48
I was looking for some guidelines with regards to compensation of tenants whilst a property had issues.
So for 3 months while we were sorting out leaks and electrical issues how should I compensate a tenant.
Would it for instance be a case of taking a percentage of the property which was not usable and using this to calculate any compensation sum.
The issues were Leaking Conservatory roof – now fixed Electric lighting switch failure – now fixed Dishwasher and toilet flush plumbing issue – now fixed
The only room unavailable was the conservatory for 3 months.
However the tenants are keen not to pay any rent whilst these issues were ongoing and are now 3 months in arrears!
As a compensation sum for the period I wanted to offer a kickback as a gesture of goodwill but am unsure if there are any guidelines on calculating this sum.
They have also requested a reduction in the monthly rent going forward to reflect the inconvenience.
Any advice would be appreciated.
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