15:16 PM, 28th August 2019, About 3 years ago 3
I have a bit of a quandary with one of my tenants. He has been with me for nearly 10 years across 2 houses.
Never missed a rent payment and has improved and added value to both of the properties (I have always gone 50/50 with the cost on any improvements my tenants wish to make such as extra patios or better boundary fencing)
It is my intention to ultimately sell the house to him, when I retire (about 5 years) and he has always expressed his desire to purchase the property. The timings could work out perfectly as he isn’t in a position to buy just yet, but will be for a variety of reasons around about the time I want to sell.
All of my properties are investments to fund my pension so I have no intention of selling prior to retirement or moving into any of them.
He has asked me if there is anyway we can guarantee his long term occupancy of the property until he is ready to buy. I can obviously give him all the verbal assurances I like, but I totally understand his dilemma as he is spending his money on a house he intends to buy, but with no security other than a years tenancy agreement.
Does anyone one of you clever people out there have a suggestion please.
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