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  • Buy-to-Let

    Tenanted property purchase - furniture issue

    Hi all

    I have just agreed a house for £79000(asking price £79950) with reliable sitting tenants. 3 weeks after agreeing, the estate agent contacted me to say the vendor owns quite a lot of the furniture in the property and if I want to keep it I have to buy it off them. Perhaps I was naïve to assume furniture was included before purchase etc.

    Any advice as to how I should play this one? Tempted to say he can take furniture and buy new items for the sitting tenants?

    Thanks

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    Maybe the landlord reads property tribes?

    You need to take a stand and negotiate. Most rentals are unfurnished. How can the property be sold with sitting tenants included if the agreement is for a furnished property and now the furniture is not included in the sale?

    If the property was rented furnished this should be in the tenancy agreement.

    They are squeezing you for pennies. Just threaten to back out unless the furniture is included as it’s a buyers market and watch them come around to agreeable terms.
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    ManInTheMoon

    What a liberty!

    Call their bluff and say you don't want the furniture.

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    20 years ago I bought a luxury 2 bed, 2 bath flat from a Hong Kong-based Chinese person.

    He'd bought it off-plan and fully furnished it down to crockery, cutlery, TV, vacuum cleaner, furniture, etc.

    He bought it as a bolt-hole in case the Chinese take over of Hong Kong went wrong and never lived there.

    I bought the entire contents for £300. I was the best property I've ever bought!

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    Second hand furniture is virtually worthless.  As the property was sold tenanted, you would expect the furniture to be included, unless otherwise stated from the start.

    Make sure all the furniture has the fire safety tags on it, otherwise it is non-compliant, so you may have to change it anyway.

    I would say that you'll pull out if the furniture is not included.  You really have them over a barrel here.

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    Hi 

    Say that you thought the furniture was included, and set the value of your offer to suit this... and if the furniture is not included you will have to revise your offer to £77,500....!!!

    They’ll soon come back to you with your agreed price...

    (There not the only ones who can move the goal posts.....)
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    I think the advise given above by all is good, and it reminded me of a similar incident I had years ago.  I said no thanks only for the agent to come back and say they were leaving it! I guess it was too much hassle for them to remove and perhaps they had nowhere to store, so, I’d call their bluff and threaten to pull out.
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    I would argue that for most tenant sub markets, minimal furnishing or no furnishing at all beyond the basic "white goods" - cooker, fridge freezer and washing machine - should be the norm.

    There are many cons, against furnishing, which I explain in full here.....and not many advantages to doing it

    https://www.lettingfocus.com/blogs/2018/...ty-or-not/

    David Lawrenson

    https://www.LettingFocus.com

    Unbiased Consulting Advice for Landlords

    Author of "Successful Property Letting - How to Make Money in Buy to Let"


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    Personally I have white goods 'included' specifically a fridge and washing machine BUT they are not part of the tenancy agreement. On the tenancy agreement they are excluded. The tenant can opt to use the white goods but if they breakdown then I have no obligation to replace or repair them.  If they decide they want their own fridge or washing machine then I take mine out before the tenants move in.  The less in the property that can go wrong and cost money the better.

    I also have a clause in the tenancy agreement that they have to keep all windows clean inside and out. This is because the Management Company for the property charge for window cleaning if the windows are found to be dirty - they say because it lowers the tone of the property. Also included is a clause that any light bulbs in the light fittings are the tenants responsibility to replace if they blow.  Finally, the oven and hob remain my responsibility as they are permanent fixtures. If the cooker was movable I would exclude it.

    All washers on taps are replaced whenever there is a tenancy change as tenants in the past have complained when taps are leaking (fair enough). Curtains are also provided but on the same basis as white goods you can opt to use them or they can be removed before the tenant moves in.

    My experience is that if tenants furnish the property they tend to be more careful about looking after their property and this rubs off on looking after the property generally.   At the end of the day really vetting tenants carefully is the real answer.

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