Hi. First post.
I’ve been weighing up selling my 3 BTLs due to my age, a desire for simplicity and of course the changes soon to be introduced.
One tenant has left so that one has gone up for sale quite smoothly.
The second one has an elderly tenant getting lots of support with her payments, never missed a £ so I’m relaxed at the moment.
The third one is where I need some help: the tenants are struggling with the rent, falling behind then mostly catching up, although the trend seems to be downwards. I have good communication with them and they are open about the difficulties. Chasing rents every month, seeing the debt increase tips me over into preferring to sell, preferably ahead of the new renter’s rights bill coming onto force.
I created the tenancy through Open Rent so I assume all the necessary documentation was passed to them (I’ll try and check but seems to remember I uploaded everything). From reading here a section 21 seems to be appropriate.
My question is, if I’m going to sell the property, does the new renter’s bill really impact my choice of timing? Is there merit issuing it now so the 2 months are over before 1st May, or is it too late and they won’t leave?
I know I’m really committing to selling. The market is slow but it’s a cracking house and I trust it will find a buyer.
Any other advice/thoughts welcome!