Do we need to pay rent before or after completion

[OhNotSoSaintMaria]

Long story short, it seems we should be exchanging contracts on selling our house in 2-3 weeks time, but for various reasons we're going to do completion start of October. Previously the seller of our house had agreed to let us stay in thr house and rent off them for fair few months until we get the house we're purchasing in habitable conditions. (i think this was also good for them in recouping some of the purchase price). Since then we've gone for another house and started the searches etc and therefore there's no need to rent off this house from buyers, but it'll take until oct for completion.

Anyway my question is, can the buyer force us to bring completion date forward? And more importantly, if we do need to pay rent, does it come into force from date of exchange or date of completion?

[InfiniteSheldon]

So they were nice and accomodating when you needed it? Just talk to them about completion date, rent is only due from that date. However renting for less than three/six months can be a nightmare for a landlord I wouldn't do it.

[specialsubject]

Rent is payable from when you get keys if the landlord has met all requirements.

Are they going to be all square on the legals?

[OhNotSoSaintMaria]

@infinitesheldon we're all civil with eachother. They're asking for reduction of £ 2k now for something their surveyor thinks they'd need to deal with, which in fact is not an issue with the house (as our survey report doesn't even mention it from when we bought the house). I have a feeling they'd have left it if we were paying them rent 3-6 months, but its becoming a recouping exercise now. Anyway i dont grudge them trying that, its all business and they're not being nightmare about it. They just said if we dont offer some reduction then they may force exchange quickly and aak us to pay rent, hence the question re when is rent liable.

[OhNotSoSaintMaria]

@specialsubject yes, they wont try anything underhanded, I'm sure, but they may sort a legal loophole if possible. Nohjing illegal though

[specialsubject]

No implication of underhandedness, but do they understand that they need to do right to rent, smoke alarms, gas safe, epc (probably in place) deposit protection etc etc ?

[StarTravels]

Why can't you just say no to letting them complete early? Just complete in October and then you won't have to pay rent or give them discounts?

[Spam88]

There are mortgage implications if they rent it out as well.

I guess they could force you to bring the completion forward in that they could threaten to pull out otherwise? Doesn't sound like that's particularly likely?

[InfiniteSheldon]

What was the previous completion date? If your change of purchase house means they lose out financially (ie you promised rent and are now reneging) then why not offer to meet them half way?

[Bluntness100]

Ok you should be asking your solicitor these things but if no contract to rent then you don't pay, if you have a rental contract then it is what's in the contract.

As for completion date, you state at exchange when that will be. The buyer either accepts the date or walks away. They cannot force you to do anything prior to exchange and nor you them.

[HipsterHunter]

Renting the house from the new owners was always going to be a nightmare and it was pretty silly to enter into that kind of discussion on both your parts.

Fire alarms, gas safety certificate, contracts, potentially they would need to register as LL depending on your borough, tax, letting permission from their mortgage co, insurance - its just a stupid idea for a few months.

[OhNotSoSaintMaria]

@specialsubject they'd know all these issues as the buyer is a commercial solicitor

@spam88 they cant pull out once contract has been exchanged, and that's not an issue, as they'd be happy to exchange tmr if it was possible, and neither party had agreed on a specific completion date anyway before. I'm just wondering if they're happy to exchange soon as possible and then happy to delay completion thinking we will have to pay rent for those two months.

@infinitesheldon we hadn't agreed on a specific date before. They had let us know we can stay for as long as needed (they knew the house we were purchasing before needed massive doing up so were looking at renting until December, whatever the completion date would have been). But we never formally agreed upon a date/month.

@hipsterhunter the circumstances have changed, and we never formally agreed to anything or any dates, it was a discussion of agreements re what will happen if we haven't got the house ready to move into in 3-4 weeks after exchange, whenever that may happen. And the house we were going for would certainly not have been ready before December. It made sense to stay put and rent this house from new owners than paying twice for removals and the associated upheavals.

Anyway, thanks all for your insight!!

[specialsubject]

If he is a solicitor he will know how risky this is...

[johnd2]

Simple answer, after exchange the house is still yours, almost every seller would be living in the house rent free after exchange. After completion the house is theirs, and contractually you have to give them possession, so they could sure for costs if you don't give them vacant possession. Although proving a loss might be hard if they don't intend to move in that day. They'd have to get a court eviction order if you refused to give up possession.