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Ive bought a house at auction I plan to renarvate and flip.
House is tenanted for last 8 years with same tenant on housing benefit .
Ive been told from the estate agent I need to issue a S21 to start the 2 month process, Ive spoke to the tenant who wants me to issue the S21 as he thinks he will get a council house straight away even though he is a single 50 year old man in Liverpool. Im sure this isn't going to happen and the council will tell him to stay in the property until evicted.
Looking at the court application form in case it goes that far, Ive noticed Ive got to give a rent guide to him , a EPC and Gas safe which I haven't because Ive only just bought it also deposit guarantee.Does this mean I now have to issue a new agreement with all the info and then wait 6 months before S21 who can I contact to help me through this as I have never had to issue S21 before I could figure it out if it was my own tenant with my own agreement but its all in past Landlord name and Venmores where the estate agent don't want to know.
Hi Chris,If I were in your shoes, I would offer the tenant a financial incentive to leave the property. That would be the quickest and least hassle way to solve this problem. The sooner you can get on with the renovation, the sooner you can get the property back on the market.Paying the tenant to leave will actually save you money overall, so come to an arrangement that works for both of you, and then get on with your project.
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
If we where to agree on a price to move out how would I document that so he dosnt take the money and come back the next day and say Ive changed the locks while hes out and would the document stand up if he took it to court later down the line?
Do I still issue a S21
Philip, I do think your comments are unfair and off the mark.
It's not the fault of the buyer the tenants situation, you should aim your comments at the seller.
How do you know the tenant is the perfect tenant, who pays their rent on time and looks after the property. (My thinking would be this is not the case if the buyer has enough margin to FLIP.
Regardless, different investors have different strategies which must be respected.
Everyone starts their own journey and Chris may well renovate a property in need of TLC and provide a FTB with their perfect home, and EARN his due payment. (God-forbid)
I do like these posts to air views, and usually learn a bit.
I do have to disagree to some points, if you don't mind.
The air of undue haste - I disagree, the buyer has purchased the property. He may have a bridge loan. So literally time is money. Plus he would be doing the tenant no favours at all if he wasn't open and honest from D1.
The anti-landlord ilke. This is a business not a favouritism game. I am certainly not cut throat and like the majority of landlords have been burnt by being too kind.
To be fair to Chris, he has asked the question to the best property discussion web site and is getting some great feedback.
I certainly wouldn't be buying the tenant out. Not sure how that goes down in court?
I understand your position towards tenants and I do actually agree the use of S21, because the tenant reported a repair is way out of order. But this scenario isn't like that.
. I can see where you are coming from when landlords issue a s21 to a tenancy
Hi Philip A,The original poster is not a landlord, he's a property developer, so he is looking at it through a different commercial lens.Please, if you ever see anything where there is negative commentary about tenants, then press the "report" button and the moderator will take the appropriate action.