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DOMSKI

Landlord Selling - Offered Renewed Tenancy

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My current tenancy expires in the third week of March whilst I am away.

I have accepted a new tenancy. However, the landlord has now decided to market the property with a view to selling. The property management company, owned by the landlord have advised that the tenancy can be simply transferred to the new owners.

I would like to think that this is the case but what if the buyer wanted to move in earlier? I will have a new contract with the existing landlord not the potential new buyer. Can anyone advise? (In particular - notice periods)

Many thanks

Dom

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Your rights will not change in the slightest. Assuming you have just accepted a new 6 month AST, then as long as you keep up the rent payments they cannot evict you until after 6 months, irrespective of the owner.

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Sit tight a contract is a contract. Do you know if he has sold?

Does the new owner wish to live in it or continue renting it out? If the later it is more valuable in which case you should use this information as leverage to try and lower your rent. You should start by looking for cheaper better alternatives.

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Guest Fiddlesticks

Sit tight a contract is a contract. Do you know if he has sold?

Does the new owner wish to live in it or continue renting it out? If the later it is more valuable in which case you should use this information as leverage to try and lower your rent. You should start by looking for cheaper better alternatives.

The new owner will take the place subject to your rights. Selling it in this way means that an ordinary owner-occupier is unlikey to want it until you've left - I think most solicitors advising OOs would not advise even an exchange of contracts until the seller is able to give vacant possession. Therefore it's likely to sell to another investor, who (assuming you're a good tennant) is likely to be happy to let you stay. Even if they want you out they can't do anything until your new AST has expired. The fact that it's the current owner's name on the AST makes no difference.

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Thanks for the feedback.

I have not signed yet, just agreed the rent rise. I have written to the LL and asked if he will consider a roll over of the existing tenancy on a six-week notice period for each party. If the flat becomes a showroom I have an exit strategy and if he wants to sell to OO than he has flexibility.

If flat is sold and I do sign and have the contractual right to stay (the original LL’s name is on the tenancy) does the bond transfer to new owners?

Ta

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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