RTB property- renting out within the discount period?

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    RTB property- renting out within the discount period?

    I wanted to know if anyone could answer this question for me.

    I bought my house in october 2006 via the right to buy scheme. I had been a councill tennant since june 2002. I have had the house for 7 months now and have decided that I would like to rent it out and purchase another property that I could use a live in redevelopment for the next couple of years.

    Is there any legistlation or law that says I can not rent my house out during the discount period? or am I safe to let it out during the intial three years providing I do not sell?

    thanks in advance!

    #2
    Asfaras I know, you can let it out.
    The only restriction is on the sale of the property within the first 3 years. But do check the paper work you signed last year to be certain.
    Also, if it is a leasehold property ( flat ) then check the terms of the lease, as you may need to get permission from the leaseholder.

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      #3
      Originally posted by Colincbayley View Post
      Asfaras I know, you can let it out.
      The only restriction is on the sale of the property within the first 3 years. But do check the paper work you signed last year to be certain.
      Also, if it is a leasehold property ( flat ) then check the terms of the lease, as you may need to get permission from the leaseholder.
      Thank for your reply.

      I will need to have a good look over the paper work..... I dont think there should be a problem though as long as I do not sell.

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        #4
        You should be OK.

        I have just purchased an Ex. LA flat within the 3yr discount period, the vendor paid back part of their discount to the council and I am letting out the property with no problems.

        Just check your own paperwork to be sure.

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          #5
          Discount repayment period is now FIVE years, if s.122 Notice of Claim issued after Housing Act 2004 amendments took effect.
          JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
          1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
          2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
          3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
          4. *- Contact info: click on my name (blue-highlight link).

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