I have a long term tenant at 1/3rd of the market rent

What are the options here?

Long term tenant from 2014, no rent increases, currently in a RPZ.

Rent probably at one third of market rent.

Will the new rules change the ability to sell? Does the tenant get the right to stay? Could any buyer reset rent to market rate?

If we don’t sell, what about rent reviews? Is there an opportunity to reset to market value?

You can sell but with the tenant in situ.

After 1 March, selling will not be a justification for ending the tenancy.

So probably best to give notice and sell now.

You could sell it to a friend. And they could relet it after 1 March at market rates.

Maybe find someone with a similar property and do a swap?

I think (I am not 100% sure) that the rules are as follows:

1. The original rent stays with the max 2% increases
2. The original rules apply regarding evictions to sell or move in family members
3. However, if you evict to sell and change your mind, you must re-let to a new tenant at the existing rent & the 6 year rule will apply
4. It is a tenancy of indefinite duration

IF the tenant leaves themselves after March 2026, you can re-let at market value and all of the new rules will apply to the new tenancy.