I'm thinking of buying a flat that is occupied by a tenant. I don't plan to move in for a couple of years whilst I'm working, and would like the existing rental agreement with a letting agent to remain. No rental review. Please advise of any pitfalls that I should try to avoid.
Got something to say or just want fewer pesky ads? Join us... 😊
[Help] Advice please re buying a rental property that already has a sitting tenant.
- Thread starter Binney on acid
- Start date
scooter1
How soon is now?
Sitting tenant, or agreed short term tenancy? If it’s the former, avoid like the plague. If it’s the latter and the length on tenancy works for you then it’s worth investigating
It’s a good plan.
As with any flat, Check the lease situation.
Be prepared for some ups and downs when you let a property - btl isn’t always the cash cow some would have you believe.
Ernest
Stupid IDIOT
If they're forced out at the end of the tenancy period they could trash it or make you go to court to evict them and then trash it
Justice
Dangerous Idiot
If it’s a sitting tenant you can’t just kick them out a developer I work for often has to pay them to leave talking thousands, they are protected by some old law.
Last edited:
kevo
Well-known member
- Mar 8, 2008
- 9,810
Sitting tenant means they have the right to live there as long as they like. It is their home. If they have any relatives who have also lived there a number of years, they also have the right to remain. It's a throwback to the days when society treated renters fairly and unscrupulous landlords couldn't just do what the hell they wanted.
Nottseagull
Well-known member
You really need to investigate the vendor's motive.
What is it that they are more eager to get rid of, the property or the tenant?
What is it that they are more eager to get rid of, the property or the tenant?
This.
The fact that there is a letting agent involved suggests an AST which is fine, check the tenancy to see if the term has expired which if is the case they will be on a rolling contract which suits both sides in a lot of cases.
Surely in today’s society all a LL wants is a fair reflective rent paid ON time and a tidy tenant who takes care of the property and isn’t a nuisance to neighbors?
I’ve rented for over 12 years with 4 different Landlords and never had any trouble, probably because I look after the property, and never miss paying the rent.
The term sitting tenant is also used to describe buying a property with a tenant on an AST in-situ. The term is protected tenancy which date back to pre- 1989:
https://www.samconveyancing.co.uk/news/conveyancing/sitting-tenant-5173
- Apr 5, 2014
- 25,964
If a landlord intends to sell the property then they can issue a section 21 notice. It is a valid reason. Of course, they can sell the property with the tenant in it- as is happening here.
If the OP is happy to buy with a sitting tenant in there then it may work better for them.
If the OP is happy to buy with a sitting tenant in there then it may work better for them.
Do you ever look on the bright side of life?
dejavuatbtn
Well-known member
If it is cheaper than you would have expected then there will be reason for it.
I am conscious that in some cases of long existing sitting tenants the costs of maintaining the property for rental can exceed the income.
I am conscious that in some cases of long existing sitting tenants the costs of maintaining the property for rental can exceed the income.
Icy Gull
Back on the rollercoaster
- Jul 5, 2003
- 72,015
No! NEVER
- Thread starter
- #16
I think the tenant moved in to the property in October. It's rented through a reputable agent. Both her and her daughter could do without the disruption of having to move. I'm not looking to make money, I just want somewhere decent to live when I quit work in a couple of years time. We'd be aiming for a seamless transition.
PaoloAlbioni
New member
- May 6, 2016
- 126
Don’t touch. EVEN with a barge pole.
lost in london
Well-known member
Make sure you’ve got a competent solicitor. Rules are tough now on being able to use the s21 notice procedure to get a tenant out of the flat (s21 is the ‘no fault’ route allowing a landlord to kick a tenant out just because they want to, the alternative is s8, which requires some breach by the tenant). For example, if the landlord didn’t give a gas certificate to the tenant before the tenancy was granted they can’t use s21. Also be very careful on the right to rent ID checks. And check as well the tenancy deposit scheme rules and whether they have been complied with / you will be able to comply with them. It’s all manageable, but the restrictions and rules on residential landlords get tougher by the year and there are a number of areas where a technical breach can cause real headaches / costs in the future.
A quick question for those of you who know your stuff re a rental agreement.
An Eastern European colleague has just asked if his landlord can increase their rent after all the paperwork his been agreed and signed?
An Eastern European colleague has just asked if his landlord can increase their rent after all the paperwork his been agreed and signed?