3:37 AM, 25th January 2023, About 8 months ago 23
I consider my landlord to be a perfect Gentleman and have been renting the same property for nearly two decades without any issues whatsoever. That was until I received the letter below from him a few days ago. I don’t know how to respond or what my options are.
This is the text of the letter I received …
I haven’t said anything until now because I didn’t want to cause you or any of my other tenants any undue stress. However, I’m now under so much pressure I need to share this with you.
The Government in the UK is making it virtually impossible for me to continue to be a landlord by piling on so much extra tax, legislation and mortgage interest that it’s actually costing me more than I receive in rent.
To deal with this, rather than increasing rent for my tenants, I’ve just been quietly selling my properties as and when tenants vacate through their own choice. The profits I’ve made when from doing this have helped me to absorb my losses until now. I know everyone’s budgets have been stretched in recent years and many of my tenants can barely afford their heating bills this winter, so putting the rents up isn’t a reasonable option either.
I honestly don’t know what to do, because I don’t want to ask anybody to vacate their home to enable me to sell up. I’ve just been hoping that people will eventually move on so that I can sell up.
What would you do if you were me?”