Hi I’m hoping someone can help.
Me and my two friends moved into a property on the 29th July 2023 on a 24 month contract.
I was told by my landlord yesterday that they were now looking to sell the property and put it on the market.
What happens to our 24 month contract? Do we get to see it out (as we’d really like to) or is the landlord legally allowed to terminate it?
Thanks
Your LL could sell to another investor with 'tenants in situ’ which would mean your tenancy would continue as normal although this type of sale will usually command 10 - 20% less than a vacant possession.
If the LL wants to sell with vacant possession the LL can serve you with a section 21 no fault eviction notice after 4 months for you to leave the property at the end of month 6. The government is currently in the process of abolishing this type of eviction although at this point in time they are still valid.
If this is a student let perhaps you could negotiate with the LL for you to leave at the end of the academic year as all student lets will have already been taken.
Thank you very much for your response, I do appreciate it.
If our landlord was to find another investor, would our contract remain the same or does the new landlord have the right to change/terminate it at all?
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Buying it lock, stock and tenant
A s21 is of no effect during a fixed term. You have your 2 years and if the landlord wants you to leave they have to persuade you or buy-out your tenancy.
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