First time landlord - one tenant made redundant

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    First time landlord - one tenant made redundant

    Hi,

    We are first time landlords letting out our property as we have moved overseas. We have appointed a letting agent to fully manage the property.

    Tenants have been found, reference checks complete and the tenancy agreement is signed. They were due to move in next week but we have just been informed that one of the tenants has been made redundant and they are concerned at not being able to meet the rent plus bills.

    As we have the tenancy agreement signed, I am unclear what our options are other than proceeding with the rental as legally agreed.

    I'd welcome anyone's advice, especially if you have been in a similar situation?

    Thank you.

    #2
    What does the LA advise?

    As first time, ex-pat LLs, I suggest joining NLA/RLA or undertake some LL training.

    Comment


      #3
      If your tenant now don't want to move in you could allow them to surrender the tenancy before they move in and both walk away.

      Otherwise you may have to go ahead with the tenancy and either accept a permanently lower rent or a rent holiday with the arrears being paid after the crisis.

      The key here is to communicate with all parties to devise a solution. No one wants an empty property or tenants that can't pay at the moment and your tenants may not wish to take on a rent they cannot afford.

      Good luck!

      Comment


        #4
        As above, but changed to
        If your tenant now does not want to move in you Must allow them to surrender the tenancy before they move in and both walk away. They are happy as they can't afford it. You are happy that you not be in the situation that they never pay any rent after the first month. ( taking you 4 months to evict them,at your cost )

        Comment


          #5
          Don't go ahead.
          When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
          Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

          Comment


            #6
            I'm afraid your property is likely to be empty for quite a while. You probably need to speak to your insurer to let them know this. They may require weekly inspections or similar to remain covered

            Comment


              #7
              Thank you all for your responses; all very useful. We haven’t yet spoken to the letting agent due to the time difference and being unable to reach them at the weekend via phone or email. Hopefully we will hear shortly and they will be able to advise the options available in this uncertain market.

              Comment

              Latest Activity

              Collapse

              • Any complications caused from leaseholder refurbishing communal parts
                by leaseholder56
                We are one of 2 leaseholders, converting an office building into 3 flats. The freeholder and other leaseholder, have agreed for us to refurbish the communal parts. We are aware of all the required building & fire regulations. Until now, we've simply split the cost between us, the leaseholders....
                27-01-2021, 23:22 PM
              • Reply to Refurbishments / Unhappy Tenant
                by JK0
                Did you notice that is in the 'musical instruments' section of Amazon, Nukecad?

                Maybe o/p can learn to play it while his Mrs is at the launderette. ...
                27-01-2021, 22:50 PM
              • Refurbishments / Unhappy Tenant
                by london91
                Hello,

                We live in a two bedroom property in London. I moved in early next year and my housemate moved in shortly after. The landlord said the kitchen would be updated by September, however due to the pandemic and financial reasons, she pushed it back to January 2021. The kitchen and bathroom...
                27-01-2021, 19:38 PM
              • Reply to Refurbishments / Unhappy Tenant
                by ash72
                Unfortunately, you were told when the works would start and that anyone would know that there would be disruption with noise and dust when the works are being carried out. You just need to live with it until it is finished and then enjoy the new kitchen in peace and quiet.

                There is no harm...
                27-01-2021, 22:50 PM
              • Reply to Total Nightmare
                by ash72
                Any company that thinks they can get them out is fooling you, and just taking your money. Due to the lack of knowledge and experience, the law is on the T's side in this case. I hope you have protected any deposit, EPC, etc, otherwise you may be ending up paying them money in compensation.
                ...
                27-01-2021, 22:42 PM
              • Total Nightmare
                by HLGGG
                This is my partner's property so am writing on his behalf.

                He rented his house to a friend.. did not get a tenancy agreement signed..I know,, I know

                Then his friend left leaving the house to his gf and small child. We attempted a section 21 but the company were awful and it...
                27-01-2021, 15:22 PM
              • Reply to Buying the Freehold
                by ash72
                Being the freeholder of a small block may not be for you, there's are guidelines and procedures you need to follow, for example when the ground rent or service charge is payable. The insurance of the building, what to do when of the flat's doesn't pay. Annual accounts, the list is endless based on your...
                27-01-2021, 22:37 PM
              • Buying the Freehold
                by Kellyd
                Hello. Apologies if this is the wrong forum. I am utterly confused as to where to post this.
                I own a flat, which I rent out. I have owned it for almost a year.
                It's a top floor flat in a building with approx 4 other flats.
                I have a 125 year lease.

                I've been sent a letter...
                27-01-2021, 12:39 PM
              • Reply to Tenancy Deposit Dispute - what are my rights please?
                by ash72
                Go through the adjudication process of the TDS, with the evidence, the LL can have any figure they want but it would be for your agree or disagree with, if you disagree then it's moved to claims handler at TDS who will ultimately have finally say and verdict. If you have and documentations that says...
                27-01-2021, 22:30 PM
              • Tenancy Deposit Dispute - what are my rights please?
                by BellaB50
                Hi, wondering if anyone can please offer some advice. For the record, my deposit is held with TDS. I have moved out of a rental property and today received the checkout report. The landlord was moving back into the property after being abroad for 5 years. Before moving out they arranged for contractors...
                27-01-2021, 18:16 PM
              Working...
              X