Should I sell or risk tenants buying at undervalue price?9:08 AM, 25th September 2019
About 4 weeks ago 48
Given that the Government appears to be rushing to scrap Section 21s possibly before the end of this year (and notwithstanding any change Boris Johnson might make to this if he becomes and stays as Prime Minister for any length of time), how are you as a landlord responding? “Section 21 could be outlawed within months, says outgoing prime minister Theresa May”
Are you going to instigate some Section 21s now, to get rid of any ‘dodgy’ tenants you have – the ones in arrears, notably? We all know that getting rid of them later through Section 8 will cost us a lot more in missed rent, so why not sort it now?
Are you going to give notice to tenants who you feel are very – or too – settled in an area? You might prefer to have more transient tenants – rather than those who are likely to stay even after their children have grown up. This might make your property worth less as you will only ever be able to sell to another landlord – because of your ‘sitting tenants’ – restricting your potential market, which will cost you.
Are you going to give Section 21 notices to any difficult tenants in shared houses – the ones that others find it hard to live with – whether because of their smoking, their rudeness, their aggressive attitude, their awful friends and visitors – including for example, drug addicts – and so on? We all know that Section 8 isn’t fit for purpose for this as other tenants and neighbours are often too scared to corroborate the fact that the tenant is anti-social.
It would be interesting to hear your views in comments below on how you will respond. If for example, you hear the ban is coming in by January 2020, what will you do and when?
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