Rent rise while property is in probate

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

    Rent rise while property is in probate

    I used to manage my Dad's 2 rental properties via power of attorney. I will be inheriting one of them. It is due for a rent rise, can I put the rent up while probate is in process? Or do I need to wait till it is legally mine? The rent money is currently being paid into my late father's bank account and a solicitor is handling probate. Thanks for any advice.

    #2
    Can the increase in rent not wait until you have ownership?

    Comment


      #3
      Yes, it could but I'd rather know the position. I have just had to spend £4000 on a new boiler and there are other issues which will need sorting out, probably before I have ownership. It has been let out at well below market rate for years.

      Comment


        #4
        Are you the (sole) executor. You don't actually say this.

        An executor does have the power to rent out a property in probate, even one that was not previously a renal property, so I cannot see that raising the rent is an issue. Rent belongs to the estate (and is taxed). The responsibility of the executor is to the estate - so the property has to be maintained, insured and so on during probate. Keeping a property vacant may not be ideal.

        If you are not the executor then no, it is not within your remit. Your power of attorney will not apply during probate.

        The landlord is the estate - have your formally informed the tenant of the change of landlord?

        Comment


          #5
          The deceased (Executor) is still the LL until property sold/distributed.
          Suggest OP use s13 to request increase in rent (28 days Notice).

          Comment


            #6
            The Executor can increase it !

            Comment


              #7
              I am joint executor with the solicitor. I am keen to minimise billable legal work though. It might be more economic to wait till it's all gone through as any rent rise could quickly be eaten up by legal costs if she gets involved in the process.
              The tenants are well aware of the situation as they knew my father well and I have discussed the situation with them .

              Comment


                #8
                Presumably there is no reason why you cannot increase the rent by agreement? That would cost nothing at all.

                Comment


                  #9
                  That's what I'm hoping JK0.

                  Comment

                  Latest Activity

                  Collapse

                  Working...
                  X