Hi, our 12 month AST comes to an end at the end of March. Going forward the lovely tenant is caught between renting and buying. To help I have offered 12 month or 6 month with 4 month break clause, periodic, or back to back 6 month with break clause. I have made my intentions very clear as I’m not selling, looking for another tenant, not putting rent up, would like them if they want to stay, etc. but if something should drastically change they have a minimum 2 month notice period from me in any eventuality.
They want the security of having a 6 or 12 month AST with break clause but also with the 1 month exit of a periodic in case their situation resolves and they can buy a property. We discussed the fact that buying (as per my last tenants) would give me anything from 8 weeks notice upwards. I have explained that with any tenancy option I would not force them to stay if they gave the 1 month notice as it would not be in either of our interests. I would simply appreciate being able to allow viewings.
After a couple of emails about their options and their request to change guarantor, we met onsite. We discussed the options and I followed it up by email.
I have explained that it will go periodic on 1 April, however, it is now two weeks before this tenancy ends. Regardless of the emphatic statement that they want the stability of being in the house, time is short for advertising - as you know good tenants take time and work to find! Am I right in thinking I cannot advertise for tenants unless I have received a confirmed move out date? The last thing I want is another tenant suggesting pressure and unfair eviction (like first tenant who was incorrect as per lawyers).
What am I able to do to minimise vacant property time or is it a case of waiting until 1st April then advertising or going periodic. I don’t want to put undue pressure on them or seem to be harassing them but I would like to make positive progress for myself and minimise loss of income.
I appreciate your advice, thank you.
Karen38
It would be unwise to advertise until the tenant gives official notice. Too many things to go wrong with the purchase of a new property which can delay the purchase.
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Thanks Chris, noted.
Just go periodic. If they found a house to buy tomorrow they’d need 4 months for it to complete - minimum!
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As Tricia says, just let the tenancy go rolling periodic. Its not in anyone’s interest to “renew” tenancies in these circumstances.
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Thank you Tricia and David122 for taking the time to comment, advice appreciated.