subject: I Wish To Sell A Property I Am Renting To A Tenant. What Are My Rights And Obligations? [print this page] As a landlord you must, at all times, act in accordance with the tenancy agreement which has been signed by both yourself and your tenant. The agreement will set out the terms and conditions of the tenancy such as the amount of rent payable, the length of the tenancy and how much notice should be given by either party if they wish to terminate the agreement.
Landlords who wish to sell their property are often concerned that, after giving their tenant notice that they wish to sell the property (and that, therefore, at a given point the tenant will have to vacate) the tenant will immediately lose interest in remaining in the property and will seek alternative accommodation, leaving the landlord without a rental income until the property is sold. It may be that, as a landlord, you are able to offer your tenant a decrease in rent until the property is sold, to encourage them to stay.
As a landlord you are entitled to issue your tenant with a section 21 notice which gives the talent notice of your intention to regain possession of the property (in this case, for the purpose of selling the property) at the end of the Assured Shorthold tenancy agreement.
Again, you must act in accordance with the tenancy agreement, but it is common for an Assured Shorthold tenancy agreement to stipulate that where a rental property is put on the market, the tenant (upon being given proper notice) will allow viewing to take place at specified times to be agreed in advance. However, do be cautious as you may find this makes your current tenant feel less inclined to stay in the property until the tenancy is officialy terminated.
Of course, it may be that your property is purchased as a rental property and this may provide an opportunity for your tenant and the potential new owner to discuss the possibility of entering into a new tenancy agreement between themselves once the property changes ownership.
It is almost always beneficial to maintain a friendly and approachable relationship with your tenant so that you are able to discuss matters informally with them, as well as complying with the legal obligations governing the tenancy agreement. The key to avoiding confrontation and avoiding acting otherwise than in accordance with the terms of the tenancy agreement is to ensure that you always give your tenant proper notice in the format specified within the tenancy agreement.
