Should I sell or risk tenants buying at undervalue price?9:08 AM, 25th September 2019
About 4 weeks ago 48
I am beginning to realise I was very foolish. I allowed a family who I was friends with to let my property way under the market value. We drafted a contract so that their children could be accepted at the local school.
It was agreed by both sides that the deposit did not need to go in to a deposit protection scheme and it was written into the contract that it would be deducted from the final rent payment.
Unfortunately I had to serve notice as needed to sell and this was when problems occurred. We gave 3 months notice and they refused to pay any further rent.
We have stuck to the law with all the other requirements but was nieve with the deposit. Just wanted to help out another family that were about to be homeless and save agents costs so we could give them lower rent.
They are due to leave very soon and have said they want their deposit back but as they have refused to pay rent and they have forgotten that we put in the contract that it would come off last month’s rent once they vacate where do they stand legally.
They broke a number of terms in their tenancy, sold items listed on inventory, damaged to property, undisclosed pets, redecorated to a poor finish without permission, they received £500 rent reduction in return for two jobs they were to carry out. One year on and they are still not done. I even allowed them to move in earlier than planned and gain entry weeks before their tenancy began so they could store items.
Their £1200 deposit is nothing compared to the £3000 that I am aware of that they will owe, it of course could be substantially more as there is a lot of contents.
I have since been scared about the deposit advice I have been given. If I get them out where do I stand legally. My loss is far greater than theirs would it be possible if they decided to pursue me that a court would rule in my favour.
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