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CunningPlan

Helping your Landlord to sell

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Let's assume, hypothetically, that your lease is about to expire.

You know your LL is skint. To re-let, he will need to spend £thousands that he doesn't have on refurbishment.

He is more than likely going to want to sell. Except, whilst being asset rich, he doesn't have any cash to live on without rent coming in.

It is likely to take either a long time to sell the property or he is going to have to go really low on the price to get a fast sale (or use one of those 'we buy any home' type things).

He also lives a long way from the house so is not going to be in a position to look after it if it is empty for any period of time.

Does anyone see an opportunity for the tenant in the above scenario?

 

 

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I am hoping my landlord gets forced to sell. They only have three properties all bought post-2007 and both him and partner have reasonable jobs so will probably get slaughtered by the tax changes coming. The house we rent is also quite old so will also need work doing to meet requirements for energy ratings. Fingers crossed. 

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Personally I hope it's a total bloodbath for landlords when S24 bites!

I negotiated a good deal with my ex-LL who wanted to sell.

Reduced rent & no quibble deposit refund in exchange for cooperating with property viewings and going quickly when completed rather than the statutory period.

Requires a degree of trust both ways but was win/win for both of us.

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1 hour ago, disenfranchised said:

Personally I hope it's a total bloodbath for landlords when S24 bites!

I negotiated a good deal with my ex-LL who wanted to sell.

Reduced rent & no quibble deposit refund in exchange for cooperating with property viewings and going quickly when completed rather than the statutory period.

Requires a degree of trust both ways but was win/win for both of us.

Yes, that was along the lines I had in mind. Maybe a rebate of rent paid during the selling period upon completion?

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Or... drop your rent & serve you notice at the same time, then keep extending the notice by a month each month by mutual agreement until sold.

If cashflow is a problem I wouldn't trust a rebate.

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11 minutes ago, disenfranchised said:

Or... drop your rent & serve you notice at the same time, then keep extending the notice by a month each month by mutual agreement until sold.

If cashflow is a problem I wouldn't trust a rebate.

There is plenty of equity but no cash hence the rebate idea.

I think every LL will be different but there will be possibilities ahead for tenants to think smart and get a few sheckels back from any troubled LL.

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