Should I sell or risk tenants buying at undervalue price?9:08 AM, 25th September 2019
About 3 weeks ago 48
We north of the border are moving away from Assured and SAT s to no term agreements. Tenant can up and leave with 28 days notice. No 6 month leases, no 1 year leases to give the landlord piece of mind, nothing. . We have to be at the whim of the tenant to up and leave.
You could spend £000s on a property and a tenant could be in your property for 1 month – a neat short let at below short let rates because the representation was ‘ we are looking for a long stay’ and hey presto 28 days notice on the day they move in ! 90% of landlords here have not picked up on the underhanded amendment at the second stage of the bill – now passed. The rationale being – check this, in case someone is living in a abusive domestic relationship !
The whole Private Rented Sector up here has been arranged around that scenario ! I am still getting my mind around the rest of the bill although selling up is now on the radar.
Anyway the question is – can I have in an agreement (using current SAT s as an example) a discount element for long (er) term occupancy ? i.e. The rent is say £600 PCM with last months rent free as an incentive to take up the occupancy ?
Would that fly ?
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