Would you purchase a house with sitting tenants ?

[mumof2teentoddler]

Just that really - we have an open house with 8 viewings and we are the tenants… we do have a date for the section 21 where we need to be vacant by end of May but at the moment there’s no rentals we can find. so very worried. Just wondered if this would put potential buyers off, or not.

We are very sad but understand that this can happen and the landlord wants his house back of course. We tided the house as much as we can with 2 children !

Okay! It sounds like their are rental options available so thats good.
if I were you I'd get our sooner rather than later I'd also explain how hard rentals are tp find so is he okay to end the tenancy before may if you find somewhere suitable... if not you may he there long after may.

Basically communicate with him so it doesn't get messy / stressful for you and your family.

Landlord would prob rather loose a 1-2 months rent than have a sale fall through.

I am trying to sell a property which is let. I had to leave the family home due to DA and now need to sell the let to give me and my children some breathing space with money and pay legal fees associated with trying to divorce the ex who is a monstet and is delaying everything and is obtrusive. I dont want to sell. I have to . My fees are at 20k :'-( id be gutted if my tenant forced me down a route of getting her evicted. Rentals are hard to come by here too. Im totally stuck. Fwiw id never be a LL again and wouldnt encourage any to do it. The government has created a huge problem. I know people who would rather leave a property empty than Let it (and none of us charge extortionate rates as we have a moral compass). At the end of day Im trying for a slow sale to give tenant as much time as possible. I really dont like advice about dont go, make your LL go down the legal route. We are humans too with anxieties and other things going on.

When we used to rent it was part of the contract to facilitate viewings either new rental tenants or if the owner decided to sell during the notice period but at agreed times.

It could go either way I guess

private buyers looking for their own home may be put off or may love the house enough to go for it and just assume you’ll get out

investment buyers would probably love the fact there is good long term tenants in situ - this happened to my friend last year they were so worried but it’s all worked out ok except their rent was way under market value and they have been told it will rise each year in line with market conditions - but where we are, there seems to be a huge shortage of rental properties and her kids are settled in school so they’ve stayed put. For context they were paying £750 a month for a 3 bed and the others that go up for rent fetch about £1200-1300, which is quite a big jump. The new contract was £850 a month and she is anticipating £950 next year, £1050, £1150, £1250 etc until it gets to the “going rate”
but the new landlord is very good and has replaced some windows and is putting a new kitchen in which needed doing and is taking my friend to b&q to help choose the colours/tiles and have made them feel it’s very much their home which means a lot.

Both my sister and I came into some money a few years ago. Not in a million years would I buy one with a tenant in. I work in the fringe of rentals. Having seen what goes on with tenants no way would I ever ever consider buying one. My sister was keen but didn’t realise how much the law was on the side of tenants.

We had one tenant who refused to pay his rent for months. We served him
notice and it took nearly a year to get to court. He was told to leave but not before wrecking the place and because he moved abroad it was impossible to chase him.

Its going to get worse come May and this stupid Labour government has not a brain cell between them to recognise that there will be LESS rentals overall pushing up prices further.

Still I believe the Green Party want no private landlords. The state will run everything!!

Well there’s options yes that won’t make us street homeless. So downsizing to a 2bed flat, no parking or garden so absolute nightmare with no parking for 2 cars ( we’ve done this before and it’s a nightmare) especially now with 2 children in tow so one flat is ‘ok’ but on a main road with double yellows so will be trying to find a car space and walking with a 3 year old not saying that’s not possible just annoying when we have a 3bed semi with a drive way in a sleepy village but yes we have options to not make us homeless.

we will keep in contact with him but I cannot see us staying past May and going down possession route unless we have found somewhere in April time and reference is going though that may extend us by a few weeks, so that’s my aim unless of course something comes up sooner I won’t move to a downsize anything before hand as there’s no benefit for us at all.

3k for first months rent and deposit in our area so least by April it’s better than moving now gives us a couple more paychecks which will help.

Some estate agents I’ve called up they want proof of the money and credit score ! BEFORE viewing was accepted. I’ve viewed a few but all were awful….pics made it better than reality. So my husbands wants to wait a bit longer rather than jump ship. But we have a few weeks - not that long really

We bought our flat with a sitting tenant. However, I did take the tenant to one side when were viewing the flat to ask if he would be moving out of his own free will, as I wouldn’t have offered on it if he was being evicted. As it was, he had another rental lined up and was gone months before we exchanged.

This sounds awful and what a horrid position to be in. I mean that won’t be us as that’s just unfair on the landlord but still I’m hoping an offer doesn’t come. I just need time. And hoping if he doesn’t have interest it will buy us that…once our broker gets back to us we can see where we are at, I don’t want to panic buy buy buying here would be the dream…if not then finding the best cheapest rental for 6 months or so
and the upheaval of moving 😩

This is the thing, we don’t know what our landlord situation is and it’s his house at the end of the day! But he has to understand if we cannot find anywhere by May he needs to understand that but being evicted is not on my radar really…not when I can secure something beforehand

I'd assume the seller wasn't serious about selling if the listing doesn't mention that the house has tenants. I'd be pissed off to travel to a viewing only to find out the seller had omitted that important detail! Even an inexperienced FTB will be advised by solicitors to ensure the house has vacant possession before exchanging contracts I would imagine.

You sound lovely btw. In my experience 50% of our tenants gave us issues. It was in an inner city and it attracted overseas people who were just here for say 1 year. Even rich overseas students. Culturally they had different views i.e they would move friends in and not tell us. In many cases rarely clean and lived in very messy conditions.

We often found old food in all sorts of places when they moved out and appliances often broken due to careless use. The hob was badly scratched. Oven never cleaned, put pictures up and damaged walls. That and not paying for months and then lying about their position.

These were luxury flats btw!

We don’t do anymore. Just too tricky to manage even with a letting agency helping us.

I have offered on a house with tenants in. They were on a 6 month contract while the house was empty which should have been a warning the landlord would scrape every penny possible. I offered the day after we got an offer to ensure the landlord had plenty of time to give notice to the tenant in time for the end of their 6 month contract. Three months later we found out she hadn’t actually given the notice and so everything was delayed. We would absolutely not exchange and nor would our solicitors until vacant possession was assured. The tenants did move out a week before their notice expired but due to the circumstances I was more assured they would actually leave. It was still nerve wracking and I wouldn’t offer on a house where people were settled.

Imagine if rather than monetising property, people monetised the water supply. Sure you can collect rainwater, but if you want a functioning tap, you have to either buy one which is staggeringly expensive and out of reach of many people, or pay a water landlord which for most will mean you are trapped in a cycle of paying and being unable to save enough to get your own.

People who have enough money can become water landlords and control the water supply. Water landlords see water as simply away to make money, they feel they are good people because they keep their taps functioning more or less. but in monetising something so essential they are exploiting the needs of those who have less, they put the price uo close to maximum and feel they are Good People for not going all the way. The landlords are not really adding value, they are just buying up assets which are limited in number and essential for modern life and then gatekeeping them. They simply have more capital and are exploiting it because they were able to get there first and bagsie these assets

Drinking water, and having a home are not luxurious optional choices, they are essential. I think if a landlord is going to be in the business of making profit from assets like this, there is a different kind of responsibility. if you can’t find somewhere else to live and are being advised to stay put that is what you should do. Don’t feel bad.

Maybe the estate agents advised this when they make the booking? so what gets me is the ad says the date of the open house? And can clearly see my address…So if anyone turns up unannounced I will be telling them to go away!

No I might view but wouldnt offer until tenants had moved out

Do you have to put tenants in the listing or is it something like when a house hasn't got probate and people find out down the road.

It might not be in the listing but agents may well be telling those booking viewings that the house is currently rented and the tenants have been given notice to move out, or similar.

Yes, listed as ‘tenants in situ’.

No I would not.

Not unless I was a professional landlord.

This is good advice if someone is going to be reliant on the Council for housing assistance. It is really bad advice for someone who is nearly mortgage ready and will scupper themselves by getting a CCJ and should consider every possible way of avoiding this.

He may want a quick sale but you living there and not leaving will put many people off

how long will it take for you to get a mortgage as that sounds the best outcome

I would be very cross if I was viewing a house and realized tenants were here if I hadn’t been told…I’m sure wards would have done but they’ve probably said we’ve been served notice and in the process of moving…if we were and boxes were everywhere I wouldn’t think people would be as put off but as long as they know we aren’t moving…not yet anyway
the add is basic just says it’s in a a lovely village shops etc but nothing about tenants in situ

No i wouldn’t buy. I wouldn’t even view unless I was a landlord wanting another property to my collection.

@Blondeshavemorefun we are very close but our broker is making some enquiries to see if we are in a position to buy this house…giving it a good go so least if we aren’t ready now we will be soon. Higher rates etc but we will suck that up for being able to stay. Should know by next week
but if not then we plan to rent for 6 months and try again then just obviously a pain in the ass but we have to see if we can