I’m selling my rental property – but tenants are struggling to find a home

I’m selling my rental property – but tenants are struggling to find a home

13:43 PM, 12th August 2022, About 2 months ago 16

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Hello everyone, We’ve had a great tenant for over a decade – single mum with 2 boys.

She has an IVA (Individual Voluntary Arrangement) but has never missed a rent payment and is no trouble at all.

We are having to sell this property in Sussex and she simply cannot find a new rental. The market there is fierce.

We’ve accepted an offer and are now moving forward with the sale.

I have no clue what I can do if she has nowhere to go.

There is no social housing there. One of my other tenants is a manager for a Housing Association and even she can’t find anything for her.

Can anyone suggest how we may help her – we live abroad?

What will happen to her if we complete and she has nowhere? I’m losing sleep over this.

Thank you,

Gillian



Comments

Graham Bowcock View Profile

15:05 PM, 12th August 2022, About 2 months ago

Sadly, your position is quite difficult.
I assume you have served a s21 notice; if so you will just have to enforce this. If you need the house back then you need to do what is necessary.
We had a client in the very same position and he really just had to wait until the tenant found somewhere before they left.
Agreeing a sale may be premature as there is no way you can guarantee vacant possession. Personally I'd have waited until the house was empty. It could be a year before you have VP and can sell. It is very unlilkely that the buyer's lawyer will let them complete without VP.

Simon M

15:36 PM, 12th August 2022, About 2 months ago

I'm surprised the buyer viewed and made an offer with a tenant in situ. Certainly would not expect any solicitor to progress the sale very far, and not if the buyer needs a residential mortgage.
If the market is fierce you might find a landlord to take on the property - yourself. Specialist services advertise here on Property118 from time to time, although I haven't used them. Another landlord with a tenant and IVA may want a discount but it's not a difficult sale. Alternatively, you will have to follow the S21 process which will cost you and extend the time to sell considerably.

DSR

20:02 PM, 12th August 2022, About 2 months ago

S21 and wait. No choice by all accounts . If you haven't done this already she may well be upset and hold out until the Bailiff but especially if she genuinely cant find anywhere. The upside is it is doubtful she will leave damage etc as she will still need a reference....
you wont sleep any easier but what else can you do? The plus side is you are distant so can be quite 'clinical' especially as this is clearly pulling on the heart strings.

Laura Delow

8:00 AM, 13th August 2022, About 2 months ago

I suggest speaking with National Residential who can sell your property with tenants in situ. See previous discussion https://www.property118.com/national-residential-will-solve-every-landlord-problem-to-sell-your-buy-to-lets-for-the-best-possible-price/

john thompson

8:08 AM, 13th August 2022, About 2 months ago

That's a sad situation especially as the tenants have been so good.
I have no answer unfortunately and this situation will become more and more common for all of us landlords as the shortage of rental stock grows. The government is forcing many good landlords out of the sector with overbearing regulations and tax hikes.
There is a huge shortage of housing as it is and the government keeps bringing in and letting in more and more illegal immigrants on top of that, and it's totally obvious to everyone this is the consequence.
Of course, they just brush it all under the carpet and never even dare talk about the real reason the county is such an absolute terrible mess in all areas of life, with shortages of just about everything!

Mark Crooks

11:00 AM, 13th August 2022, About 2 months ago

Assuming she is as reliable and honest as you believe, perhaps consider acting as a guarantor for her for the initial 6 months of her new tenancy.

Might make her application more attractive.

Gillian Schifreen

20:00 PM, 13th August 2022, About 2 months ago

Reply to the comment left by Mark Crooks at 13/08/2022 - 11:00
I'd be more than happy to stand as guarantor but will a landlord accept this as I'm resident in Portugal?

Gillian Schifreen

8:09 AM, 14th August 2022, About 2 months ago

Reply to the comment left by Simon M at 12/08/2022 - 15:36
I think the rental return is way to low to attract anyone who would buy with the tenant in situ.

Gillian Schifreen

8:10 AM, 14th August 2022, About 2 months ago

Reply to the comment left by john thompson at 13/08/2022 - 08:08
I think the rental return is way to low to attract anyone who would buy with the tenant in situ.

Gillian Schifreen

8:12 AM, 14th August 2022, About 2 months ago

Reply to the comment left by john thompson at 13/08/2022 - 08:08
For goodness sake illegal immigration is a minescule issue. Don't believe everything you read in the Daily Mail.

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