Wednesday, April 8, 2009

The unsettling effect of landlords’ short-termism

The unsettling effect of landlords' short-termism

While we're on the subject of Landlords .....

Posted by becky @ 12:11 PM (741 views)
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3 thoughts on “The unsettling effect of landlords’ short-termism

  • Stick and wrong end come to mind.

    from one of Penny’s comments she states the reasons as landlords fear of sitting tenants, insolvency, and a genuine wish to sell a property

    – fear of sitting tenants is abated by the AST contract for sure, but the presence of this contract means there cannot be such a thing, so the fear is dealt with by their ability to give notice.

    – insolvency, sure if your tenant becomes insolvant you do not really want them around, is Penny going bust every 6 months?!

    – genuine wish to sell. This is fine (ish) – if the owner wishes to sell then they should be able to give notice. They cannot do so until month 4 currently and, as she point out correctly, there are some problems with the laws on vacant possession – there is scope for appending a 6 month notice of sale clause which may be better for this scenario (reflecting the nature of this event). However I doubt this is why Penny is moved along every six months! More likely is that she does not keep up her rent payments (aka ‘[fear of] insolvency’).

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  • It was the removal of future rights to being a sitting tenant that whent a big way to starting all this crap off!

    For all new tenancies, which started after 28th February 1997 they will automatically be assured shorthold tenancies, unless the landlord serves a notice to say it is NOT to be an assured shorthold tenancy. Or it is written into the agreement that it is not an assured shorthold tenancy.

    This has made property a much easier investment vehicle and it should be crapped.

    Assured my ar8e. Rights to a secure and peaceful life must be reinstated.

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  • “and it should be scrapped”…Opps!

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