Money better spent making a cash offer to vacate?

Money better spent making a cash offer to vacate?

15:09 PM, 4th November 2021, About 4 weeks ago 10

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I need to get possession of a flat from paying a tenant with whom I’m on good terms and rather than go to court to evict them, I think the money would be better spent making a cash offer to the tenant to vacate.

I would rather the tenant got the money after vacating than it went on court fees, bailiffs etc.

Would anyone be able to give me an idea of what sort of ballpark total cost I would have to pay to go through the eviction process, so I can work out what to offer my tenant?

Does anyone have experience of incentivising a tenant to move elsewhere?

It is a one-bedroomed flat in the London Borough of Richmond.

Many thanks

Fiona



Comments

by Fiona Stacey

15:14 PM, 4th November 2021, About 4 weeks ago

That should read - 'from a paying tenant'. In other words a tenant who is currently paying rent.

by Tessa Shepperson

8:28 AM, 5th November 2021, About 4 weeks ago

The fees will vary depending on whether you use solicitors or decide to do it yourself (for example by using the Landlord Law service https://landlordlaw.co.uk/what-is-your-problem/. If you use solicitors you are unlikely to get much change from £1,500 if you have to go to Court.
However, why not think about it from the tenant's point of view?. They will need to pay their first month's rent and pay for removal costs. If you can cover this then they will be able to afford the move and will be more likely to accept.
But give your offer a deadline and (unless you really really trust them) don't pay them anything until they have gone and you have the keys back.

by Gary Bray

8:38 AM, 5th November 2021, About 4 weeks ago

Why all this talk of eviction and bailiffs if you're on good terms? Why not just explain your situation and ask them to leave? Feel free to offer an incentive like a one month rent rebate as a good will gesture of course but there's probably no need.

by Graham Bowcock

9:01 AM, 5th November 2021, About 4 weeks ago

Smoothing the wheels by incentivising the tenant is definitely a good idea. It means they don't get stung for moving costs and other costs as badly when they move. I have done this myself and it has worked.

The problem at the moment is supply of rentals; we have tenants willing to move (both to buy and rent again) and there's little available. I usueally serve the s21, but explain that it's the fallback position.

by Adrian Jones

9:17 AM, 5th November 2021, About 4 weeks ago

You might want to consider how much it's worth to you for the the tenant to move out.

by Fiona Stacey

9:51 AM, 5th November 2021, About 4 weeks ago

Replying to Gary, I need it back for my mother who has terminal cancer. My tenant is struggling to find anywhere and has an incentive to stay put. I've been asking nicely for about six months now.

by Tessa Shepperson

10:12 AM, 5th November 2021, About 4 weeks ago

Reply to the comment left by Fiona Stacey at 05/11/2021 - 09:51
In that case Fiona you should serve your notices and crack on with your possession proceedings. If you make an offer say to your tenant that if they accept the offer and move out, the possession proceedings will be cancelled but until such time as they do, you will continue with them. In order to protect your position.

Often tenants 'buy themselves' extra time in properties by making promises to move out which are then not honoured. However, if the landlord pauses the eviction process they will lose time and the tenant will have longer in the property.

by LaLo

14:31 PM, 5th November 2021, About 4 weeks ago

If you're worried it could all go pear shaped, you could offer to pay the deposit and - or first months rent and removal costs on 'their behalf' depending on how much! Legals cost a lot of money and can drag for ages whilst the tenants are still there! The rules and regs now are ridiculous re' evictions with talk of section 21 being scrapped, so act fast!

by Tom Crispin

19:32 PM, 5th November 2021, About 4 weeks ago

It is free to serve a Section 21 notice.

If they don’t leave within 2 months, it is £355 for an accelerated possession order. No need for legal help - the form
is easy.

I suggest offering £500, £355 for the possession order and £145 for your stress. Though the £355 possession order fee is chargeable to the tenant.

by Silverwillow

8:21 AM, 6th November 2021, About 4 weeks ago

I am an HMO landlord & I have always done both. Firstly I let the tenant know I want to help them. I then make them a time-limited offer. This varies depending whether or not there are arrears and how soon the tenant has made me aware of their situation. If no arrears, I suggest if they can move elsewhere within 7 days, I will give them both their deposit back in cash & 1st month’s rent upon key handover. Or if they are starting to fall behind with rent & are in arrears, I let them know if they can move within 7 days, I will overlook the arrears & give their deposit back in full at key handover. Some have been pleased to have the slate wiped clean. This worked well for one tenant who had part-paid rent for several months. It had mounted up & overwhelmed him. He was happy to just get his deposit back and moved out within 4 days. I found another tenant for this room quickly who moved in the following week. I also tell tenants I will be issuing a Section 21 ‘for our own protection’ however I would much prefer them to have the cash & make a fresh start elsewhere. So far, even tenants with ‘nowhere to go’ have managed to find somewhere quickly & move out within 7 days. If they don’t go for the cash option, then at least the eviction process is underway. I have only once used Section 21 & the courts to evict & found it a very expensive, protracted experience.


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