Landlord wants valuation of property. What does this mean

[MK85]

Hi all, just after a little advice.
I got a letter saying my landlord wants a valuation of the property. I'm curious exactly what this means and what this entails .
Is this a normal procedure or do you reckon my landlord is planning on selling ? I've been here for 10 years and never had my landlord asked to conduct any valuation.
Their exact quote was " nothing is certain in life except death and taxes and its because of this is we must make out arrangements through hmrc, this necessitates an up to date valuation of the property"
Not sure what exactly that means
And what exactly does this envole?
Also am I obligated to have this carried out at their time and date ? I only got notice today that they want to carry this in 2 days but I actually currently with my family for few days relaxing as im having a procedure done in hospital and imagine I'll be resting afterwards for a few days. Do I have a right to request them to allow me until next week? I'd obviously like to get a little tidying done and cleaning aswell as haven't been fit past few weeks as I have my hopsital appointment this week. I mean they can't just barge in or ask me to vacate my home if I'm recovering can they ?
Also am I allowed to be in the home ? It said its conducted by a company who will be accompanied by my landlord. Obviously I'm not comfortable someone around my personal belongings opening drawers ect. Any advice would be appreciated

What does the terms of your contract say? Normally it’s 48 hours notice. He could be remortgaging it could just be a tax issue as he says. I’d not make it difficult for him.

He probably just needs a valuation to remortgage. It’s not something you need to worry about, but you do need to allow it to happen. There’s no need for your home to be spotless though, and they won’t go through your drawers because they have nothing to do with the value of the property.

What’s your relationship like with him

m will be very straightforward and take a few minutes

he probably needs updated valuation for end of year accounts

Landlord is either planning to sell or they need it valued for tax/inheritance purposes. You can ask them to do it at a time that's convenient for you, but they won't be interested in your stuff/opening drawers etc. They will just be looking at the structure/general state of the property (walls, roof, windows etc) to get a valuation.

If he's got a few properties he might be trying to put them into a limited company so that the mortgage interest is tax deductible. To do that he will need an up to date valuation. Or perhaps he's remortgaging or selling - difficult to know for sure unless you ask!

Oh and as long as basically clean and tidy - then don’t bother doing a thing

This happened to me when I was a tenant, it was nothing to worry about and took less than 5min

A property valuation is pretty quick, he will need to see in every room but wont look in your drawers/kitchen cupboards etc

Id doesn't necessarily mean he is thinking of selling, he could be changing his mortgage, securing some other borrowing, planning inheritance tax etc so i wouldnt worry to be honest - i think it took about 15 mins last time i had it done

Regardless of what your contract says you have the right to refuse visits, however if you want to retain a good relationship with your LL it’s best to agree. You can ask them to change the time to one that is more convenient, that’s not unreasonable. If I were you I’d offer a more convenient date and ask if they’re planning to sell. They could be remortgaging or sell, you won’t know unless you ask.

I’d say he was thinking of selling
ask him if he is selling as you need to start looking if he is

It could be because he wants to remortgage, or raise a loan against the equity in the property, or because he wants to sell.

AFAIK, he has the right to inspect the property or get it valued, but you also have the right to be present and delay this to a date, within reason, that works for you.

How is your relationship with your LL - can you talk to him?

(The way he phrased the request is very odd and not very professional - as if he wants to be deliberately vague.)

Seeing as he quoted taxes I expect it is something to do with that. But if you don't ask, then you won't know why.