Help with Lifelong Tenant problem

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    #16
    Originally posted by Yellowmead View Post

    This is a helpful suggestion, thanks. I had thought of this, my worry is estate agents seem to change quite often, I need to find a small firm where the employees are going to stay for the next 10-15 years!
    Oh, well you need to find one where the owner actually works there. I think they still exist.

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      #17
      You should probably consult a housing solicitor as you may well have responsibilities regarding maintenance, gas and electrical safety, EPC etc.

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        #18
        Originally posted by Yellowmead View Post
        My concern is that maybe they move into a nursing home, and how are we to know, unless we are somehow informed, as we only have the tenants name & address, but no details of relatives/excutors?
        Yes I can see why you would be concerned. I would sent a polite letter asking the tenant for his next of kin to contact you should anything untoward happen to him. I think that's a reasonable request that isn't too intrusive.

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          #19
          It may be a tenancy or it may not be one. Why is he insuring the property? Is there a written agreement about this? Were you given all the papers? Do you have the solicitor details who drew up these agreements / tenancies? Was this a casual agreement between friends or speculative arrangement?

          It would be worth visiting the property and asking to have a look around, as you could say you have never seen it. However, if you do visit, would you start to get requests for repairs?? For instance, the tenant may not have been keep to replace to the roof or carry out repairs? When you are visiting, you could drop your details to the neighbours.

          What about the relatives, who may think they inherit a property, realise that the property does not belong to them. You can only do this while the tenant is alive and get legal advice.

          You also need to make sure the property is safe. Yes, the rent is low at £20per year, but if there is a fire and no smoke alarm. Will you have any liability? What if the EPC is too low? Will you need to spend money to bring it up to standard?

          You say you need to money, have you considered selling the property on? You will take a financial hit, as the rent £20 p.a., but you will get something today. You could even offer it to his/her family.

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            #20
            what happens if this tenant dies, does he get the right to pass the tenancy on to someone else or does it revert back to the freeholder.

            This sounds like one of those equity release schemes but i'm guessing the company sold the property to release the cash

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              #21
              Originally posted by DPT57 View Post
              You should probably consult a housing solicitor as you may well have responsibilities regarding maintenance, gas and electrical safety, EPC etc.
              Possibly not as it is a long lease.

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                #22
                Do your own annual inspection & collect any rent due.
                Ask T if he has appointed an Executor and ask Executor to keep you informed if T dies or moves into a residential care.

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                  #23
                  Originally posted by MdeB View Post

                  Possibly not as it is a long lease.
                  Yes, possibly, but I'd be interested to know how these leases are constructed as the length is indeterminate. It could end after a couple of years if the tenant died and how would that affect the statutory position?

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