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

by Readers Question

1:43 PM, 12th August 2022, 4 years ago 16

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Landlord News Landlords Questions

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

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Comments

Gillian Schifreen

Comments: 124

8:14 AM, 14th August 2022, About 4 years ago

Reply to the comment left by Laura Delow at 13/08/2022 – 08:00
I can’t imagine any buyer would be interested with the very low rent to value this property has.

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Gillian Schifreen

Comments: 124

8:16 AM, 14th August 2022, About 4 years ago

Reply to the comment left by DSR at 12/08/2022 – 20:02
Of course it pulls on the heart strings. I’m a human being before I’m a business person.

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Laura Delow

Member Since April 2021 - Comments: 120

8:23 AM, 14th August 2022, About 4 years ago

Reply to the comment left by Gillian Schifreen at 14/08/2022 – 08:14
When you say a low rent to value, what are these? Are there other fixed outgoings like a service charge/ground rent? National Residential are very creative and find sale solutions for most situations so it can do no harm to speak with them.

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Gillian Schifreen

Comments: 124

8:32 AM, 14th August 2022, About 4 years ago

Reply to the comment left by Laura Delow at 14/08/2022 – 08:23
3% return, excluding expenses. No other charges. However I’ve accepted an offer and we’re half way through conveyancing.

I’m just wondering if anyone know what sort of help she’ll get off the local authority if she can’t find anything.

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Laura Delow

Member Since April 2021 - Comments: 120

8:44 AM, 14th August 2022, About 4 years ago

Reply to the comment left by Gillian Schifreen at 14/08/2022 – 08:32
Please see link re how the local council MUST help anyone facing homelessness https://england.shelter.org.uk/housing_advice/homelessness/get_help_from_the_council

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Gillian Schifreen

Comments: 124

9:04 AM, 14th August 2022, About 4 years ago

Reply to the comment left by Laura Delow at 14/08/2022 – 08:44
Thank you.

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