Should I rent out a dilapidated property?
9:40 AM, 12th January 2024, 2 years ago
24
Hello, We have a property in the family that we have taken back into possession after a very long rental term, circa 50 years. As you could imagine it is now quite dated and run down inside. All still functional just in need of modernisation all the way through.
No central heating, just electric heaters, an old bathroom and kitchen, gravity fed hot water. 90% double glazed. Has a leak on a flat roof that wants recovering and 2 windows that need double glazing. Needs decorating top to bottom unless 1970s is your taste.
We have a family who are willing to take it as is, and do the work themselves, albeit for a substantial reduction from the market rate rent. Which we are happy to do, for various reasons.
I rent other properties out and know what should and shouldn’t be done generally when preparing a property for rent.
My question is, are we okay to rent it this way?
It wouldn’t get a decent EPC result, there is major work that wants doing. It has been rewired but wouldn’t pass an EICR, without a board swap and some sockets upgrading.
Is there a contractual way to rent it to them given they are happy to take it the way it is?
Thanks in advance for anyone who can assist.
Joe
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Member Since July 2023 - Comments: 179
8:09 AM, 15th January 2024, About 2 years ago
Reply to the comment left by Graham Bowcock at 12/01/2024 – 13:40
Surely that is a lease?
Member Since January 2020 - Comments: 559
8:41 AM, 15th January 2024, About 2 years ago
Reply to the comment left by Jim K at 15/01/2024 – 08:09
Yes it would be a lease.
Member Since January 2020 - Comments: 559
8:43 AM, 15th January 2024, About 2 years ago
Reply to the comment left by Judith Wordsworth at 13/01/2024 – 09:08
I don’t disagree with you.
s11 predates the compliance requirements (EPC/EICR) so doesn’t consider them, but I agree that the owner needs to do the minimum compliance before the lease starts. The repairing obligations can be transferred to the tenant, though.
The lease would need to be prepared by a solicitor and, as you say registered at Land Registry.
Member Since December 2018 - Comments: 95
3:55 PM, 15th January 2024, About 2 years ago
Reply to the comment left by Graham Bowcock at 12/01/2024 – 13:40
That may have been the case once upon a time however with the need for rental properties to now meet minimum standards, EPC, EICR that is now more difficult. What do you call level of rent is appropriate for a house that possibly needs modernisation? If someone need to rent a grotbox because its cheap they most likely wont have the money to do any works.