Trying to make some sense of the new proposal regarding the scrapping of AST’s as detailed by the government just this week.
All new tenancy’s to be periodic with no fixed term, am I misunderstanding that a tenant will be able to move in one month and out the next ?
How is this to be considered a viable business venture? if you pay an estate agent to find the tenant and the property is empty for 1 month after this tenant has vacated, you have lost money and will continue to do so, even if you carry out all the administration work yourself.
Whilst we currently have many applicants for our properties when they become available most are not suitable.
I had no idea AST ARE ABANDONED. From when?
Don t panic , don’t panic. .
Realistically with the cost of moving tenants are highly unlikely to want to move after a month unless serios issues. It’s another reason to do unfurnished rather than furnished.
I believe this is expected to come into force next spring.
This is the system in Scotland I believe. Tenants can serve notice at any time.
It does sound madness as a contract is always where two parties commit to an agreement but one is committed indefinitely whilst the other is free to walk away at any time. Name any other instance where this is the case?
I have been a landlord for exactly 20 years and have never understood the Tories behaving the way they have since around 2015 or so. They were historically always a landlords friend and a party for people who worked hard and invested their money into property. Not anymore. People always voted Conservative for these core values but I for one will actually vote Labour in future as at least you know they despise landlords and not pretend to like you and then stab you in the back. Better the devil you know and all that. Honestly, political parties have gone mad and so have I. If you can’t beat them, join them!
It’s blindingly obvious that the Tories no longer want small scale/individual landlords anymore, in their eyes it’s about big corporations taking over property letting and investment and making one-man-bands a thing of the past. What a very sad state of affairs but true I’m afraid.