Should I sell or risk tenants buying at undervalue price?9:08 AM, 25th September 2019
About 3 weeks ago 48
I have just completed on my fourth HMO. It comes complete with six tenants all professionals and all paying rent happily. However, no ASTs , only a “Lodger’s Agreement” which is a single sheet of A4, and explicitly states on it that no tenancy has been formed by this document.
I am not sure if this is a good or a bad thing. I have ASTs for each and every other room in all my other HMOs and standalone properties. The Lodgers agreement allows for a months’ notice either side, but presumably confers no right of abode on the “tenant” …?
All comments welcome
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