Buy to let

[lollipoprainbow]

Has anyone else been in the situation of being a sitting tenant when your landlord decides to sell? The estate agent are adamant that it's being marketed as a buy to let investment but when I looked on Rightmove it said nothing of the sort! Feel like I have been lied to. Are they always advertised as buy to let or just marketed and made clear to potential buyers there are tenants in situ.?

That is my point, that is what advert should say if being sold with tenants insitu. If not then ftb's might buy it to live in themselves. You need to speak to LL and EA.

They can’t let themselves in, but if they figure out when people aren’t home, they sometimes go sneaky like that. I know it is crazy. We had to take the keys from concierge downstairs (which is for emergency only) so they would stop giving it to ea wanting to do viewings. We felt do pressured in all this I wouldn’t wish it on anyone.

Hence in out new rental we have camera in the hallway in case landlord or ea doesn’t understand boundaries lol

I am so so sorry OP this is happening to you x and I know options look limited, but give it a go into Rightmove, sometimes they advertise properties that are available in one month, exactly the amount of time you would be giving a notice. I assume as you’ve been in the property long time your notice is one month. I understand it sounds hopeless, but universe sometimes works a magic xxx and the perfect property might just become available xx plus lots of people will be leaving for vacations now, no one is moving. I find summertime is always best time to find a good new rental place. Because in September all the students come back etc.

Buy to let landlord here.
Your landlord is not very pleasant in my view to have marketed the property without communicating with you.
Your tenancy agreement is legally binding. Any incoming purchaser must respect it. Check with whomever manages your tenancy as to what notice you must be given to vacate if it comes to it (usually 2 months).
Hopefully your property will go to another buy to let landlord, my husband and I have just purchased with a sitting tenant who we are happy to keep.
Good luck.

Even if they communicate, it is a nightmare for a tenant to be paying a premium rent and having to allow people to walk around their homes. Bare in mind with no compensation whatsoever. Personally, I think it should be illegal to advertise properties with tenants in situ, unless explicitly agreed between the parties.

Some tenants may not have many possessions or expensive things in their homes, but like myself I don’t really allow cleaner lady my walk in wardrobe room, yet I have to allow strangers to view it. And it is that sort of thing that makes it almost impossible to stay in the rented accommodation that is being marketed. Also our landlord put it up for sale only 4 months after signed a new yearly agreement :) cheeky on so many levels.

@Wanderergirl thanks for your positivity ! I've always been a negative Nelly but Facebook is flooded with posts about rentals in the area and there being none available, some people waiting up to four years to find somewhere . I can't sleep and I've just woken up with that heavy heart feeling.

@Lentil63 yes I agree although the landlord seems to have put it all in the hands of the estate agents. My landlord has always been fantastic and I have been very lucky so don't know if he's at fault or the estate agents. My only hope is the landlord that owns the other flats in the block buys it but at the moment he feels it's too expensive. There hasn't been any interest at all from an investor so maybe that's why it's now marketed as usual. Once the price goes down again which it seems to keep doing deposit the estate agency telling me he's in no rush to sell!! There will probably be a flood of interest. I should definitely have been told it's no longer being marketed as a buy to let as there was a flat next door up for rent that I missed out on thinking I could stay here !! The estate agent seemed to think I was going to be fine and got my hopes up. I won't get a section 21 until the property sells and then they seem to think the sale will take five months and I can stay until the last minute. But I don't believe a word they say to be honest !!

[quote Nothappyatwork]@Wanderergirl nobody looks at references providing you pay your rent and therefore don’t affect your credit rating your landlords opinion of you is exactly that.[/quote]
Not true. I rent out my house and I had a detailed list of tenants. Jobs , family details, how many kids , schools etc.

@Nothappyatwork

There maybe something in the Tenancy agreement about the Tenant having to allow viewings if the property is up for sale.

Which part of country are you OP? We can keep our ears open for you.

You are not obliged to allow viewings if you don’t want to. This is regardless of the contract. Lots of contractual terms are unenforceable.

I would contact the Landlord direct for clarity and ask for open and clear communication through the process. I would point out that notice has not been served and you will be expecting the right approaches to be taken to this. I would question whether he is looking to sell to a LL and how explicit this requirement .

In reality there is likely to be a be a void period. LLs have to accept when selling that unless they sell to a Tenant in situ, the place will have vacant possession. Most realise this needs to happen before marketing, but some are greedy and hope to keep a tenant until…..well quite who knows what their thinking is or how it fits with giving notice and then letting people move out when ready.

I bought a property with a tenant in situ.The details themselves didn’t mention it, but I was called about the property By the EA as was an investor on the agents books. They called me and told me it had a tenant who was interested in staying. I viewed the property and wa sooner minded about the tenant. I discussed them with the letting agent (also selling) and it turned out they had been there 2 years and always paid their rent. This was good for me and they stayed on for another 3 years.

The seller though was facing difficulties. They were in mortgage arrears and under pressure to sell or face repossession. I was a cash buyer and didn’t need a mortgage so issues of having a tenant in situ was less. As a cash buyer with no mortgage or chain I was able to get a good price.

Whether your LL wants to sell to another LL depends on an variety of factors. Sometimes this can be good and straightforward, but sometimes it can result in a lower price. To be honest, most LLs only sell to an investor with the tenant in situ if this is to their own advantage.

I would be expecting to need to move. I would start looking now so you can go on your own timescales and not theirs. You will then be more in control of what happens.

Hasn't he given you notice to move ? I thought they had to give you warning .

Or are you hoping he is selling it as a buy to let ?

I doubt they will actively call you because you aren't a paying party . You are way down on their priority list . Sad but true .

@WombatChocolate thanks it's interesting to hear from a landlord point of view. I'm a good tenant and been here for 9 years, never defaulted on my rent so hoping that will be appealing if it gets sold to an investor. The landlord that owns the other flats in the block has shown interest but says it's too pricey for him which is a shame as he is my only hope really! I hate this limbo feeling just want to know what's happening. The estate agents have advised that my landlord won't serve a section 21 until it's sold but don't know if that's what will happen. I've been looking but there's absolutely nothing in my price range, flats around here are like gold dust.

You can change the locks.

I would try and negotiate a fee to help the landlord sell and leave quietly. You can quite legally change the locks, refuse viewings, and take a good year or so to be out. The landlord may well be happy to let you go at your convenience with no notice, and contribute towards costs of finding a new flat rather than have you causing trouble.

We had a similar problem a few years back, it took four months to find a suitable rental to move to, no viewings were permitted.

@Asdf12345 I'm worried though that if I don't play ball he will issue the section 21. Plus there just aren't any available rentals where I am. I'm a single mum on a very low income so as soon as I'm asked my salary on any flats I've seen I'm politely told I don't earn enough. I'm so scared of being homeless in a few months.

Which area of country are you OP?

@caringcarer south coast

Only asked because I am in process of buying another btl 3 bedroom in Hull. It needs full refurbishment with new kitchen, lounge and dining room made into one very large room and full painting and laminate floors downstairs and carpets upstairs. Won't be ready until June. I had just bought one and lady with child with additional needs moving in end of March.

@caringcarer ah sounds lovely wish I was nearer !!

section21 even when its for a tenant who owes months of money use to take about 5 to 6 months & than a couple of weeks for a bailiff
If your landlord does do this you can apply for council housing help (what you help you might get depends on your area) with your daughters situation/autism this should get you more access to housing help. if you are given a section 21 notify your council & at each stage contact them again - the moment you are given a date make sure they put you on list & allow you to access the housing website. They HAVE to help you if you become homeless through this system but it may be temp housing or out of area or hostel

Well you are you going to get a section 21 as soon as he sells the place anyway so I think that’s unavoidable. I play the game up your hours for a few months until you’ve secure the property and then drop them back down again that was what I had to do to get a mortgage

at the moment the courts are really behind so a section 21 will probably take months longer - so do not panic op you have time & it MIGHT be in your favour if the council lets you go on housing list

I suspect part of the landlord wanting to sell is because he’s let the rent fall below market value. What do you pay compared to the available flats, which come up to let? Is the difference £50, £75 a £100 or more a month?

@Didyousaysomethingdarling yes he has ! I've paid £850 for years now which compared to other 2 beds is really cheap. The other flats have just had their rent put up one is £1000, one is £1050 and the other one is £950. So why doesn't he put my rent up I'd be more than willing to pay more to stay put. The estate agent did say he was selling for tax reasons though.