Landlord wondering whether to sell or rent it out below market value

[Dr Strangelove]

leaving tenant no. 3 in sole occupancy, paying 1/3 of the achievable rent and successfully objecting to any attempt to allow the property owner to either let the other two rooms or pay the full rent.

How did he successfully object out of curiosity?

 

[DannyBoyD]

How did he successfully object out of curiosity?

I found the property registered in RTB at a rent that looked to be about 1/3 of what I thought it should be; from that & the back story I was given I deduced that tenant no.3 had been successful in bringing a case. I didn't delve any deeper.

I've bought problematic properties before & successfully refurbed/ relet them. But the purchase price has to reflect the extra costs involved & as there wasn't a deal to be done on this one, I moved on.

 

[Leo]

Again, it needs to be stated that in a residential family type home, letting out on a room by room basis is very unlikely in my view to be accepted as a genuine license agreement.

That's your view, I don't share it and student accommodation as proposed here is an example of where a license agreement can work well.

I do acknowledge that a landlord needs to enact a number of measures so they don't fall foul of ensure it is clear they are renting the entire property and dressing up a tenancy to avoid Part 4 entitlements.

 

[DannyBoyD]

Student specific accommodation is a different beast & requires RTB approval of your submission documents.

 

[Leo]

Student specific accommodation is a different beast & requires RTB approval of your submission documents.

Nothing to do with the topic at hand, we're talking a regular house not something purpose built.

 

[DannyBoyD]

we're talking a regular house not something purpose built.

Exactly my point.

 

[Leo]

Exactly my point.

Your point is irrelevant in the context of letting a regular dwelling to students under a license agreement.

 

[DannyBoyD]

Ah leo you're twisting yourself in knots here.

student accommodation as proposed here is an example of where a license agreement can work well

A 2 bed flat in D4 is not purpose built student accommodation.

Its unlikely in my view that the OP will succeed in getting it registered as student accommodation with the RTB and having the students living there classed as licensees.