Should I sell or risk tenants buying at undervalue price?9:08 AM, 25th September 2019
About 4 weeks ago 48
A short introduction to my problem:
I have rented a flat since July 1, 2013 on a 12 month agreement. At month 11, the owner was unable to pay his debts and my flat was temporarily managed by another company. Since my tenancy agreement was up, I asked them what to do and they replied:
“With regard your current tenancy, please do not worry the contract will roll onto a statutory periodic term and the rent will be due on the 1st of each month (as existing) and the rental demand will remain X p c m (as existing)”.
After a few weeks, the original owner was back in charge (probably because he found a way to manage his debts).
Now, 5 months after my original contract ended, I get an email from a letting agency with this message:
“As your current contract has expired the landlord has asked us to contact you to renew the agreement. There will be an increase of £10pw. We will post out the new contract early next week”
Do I need to sign this contract?
Since I am not planning on staying much longer in this flat (a few months only), I don’ want a new contract that binds me to the flat.
And what about the increase in price?
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