Putting investment property on market-correct way to give notice to current tenants?

[hunter09]

Hi there, I want to put my investment property on the market in the New Year and need to serve notice on my existing tenants. They are v slow to pay, are in one months arrears on the rent at the moment and I think they will be problematic in future, so just want to cut my losses and get out of the game before things go too far.

Want to do everything completely above board and according to the correct tenancy acts etc, but have been trying to read through the official 2004 government tenancy act and its all gobbledegook to me

Have found a sample notice of termination on the Citizens Advice website and was wondering if this was official enough? Tenants have been there longer than six months (only 7) so as far as I know I have to give them 35 days, is this correct?

Would appreciate advice from any other landlords on the board as I'm inexperienced with this kind of thing and want to do it right.Thanks

 

[Hillsalt]

Re: Putting investment property on market-correct way to give notice to current tenan

"Don't throw away your old coat till you get a new coat".


I sold an investment property in 2005 with tenants included. I advised the tenants that the property was being put on the market. I thought it would look better to potential buyers if the property was occupied so I offered to reward the tenants with 2 months free rent if (and only if) the property sold. They agreed even though they would have to endure potential buyers inspecting the place.

The property was on the market for 4 or 5 months before we got an offer. When I agreed a price, I honoured my word with tenants and was glad to pay them rather than have the place empty for 5 months plus another 2 months before the deal closed.

 

[jhegarty]

Re: Putting investment property on market-correct way to give notice to current tenan

What type of lease do you have ?

 

[hunter09]

Re: Putting investment property on market-correct way to give notice to current tenan

Hi, the lease is for twelve months and they are now in their seventh month, which I suspect is why they haven't paid the rent, as their legal rights kick in after the sixth.

 

[jhegarty]

Re: Putting investment property on market-correct way to give notice to current tenan

Hi, the lease is for twelve months and they are now in their seventh month, which I suspect is why they haven't paid the rent, as their legal rights kick in after the sixth.

That's a fixed term lease , you seem to be mixing it up with a month to month lease.

 

[hunter09]

Re: Putting investment property on market-correct way to give notice to current tenan

I assumed that their legal rights under the 2004 Residencial Act kicked in automatically once they were there longer than six months, and this overrode all other agreements? Also, there seems to be a bit of confusion over the legal notice period to be given when they are in arrears, is it 28 days or 35 days?

 

[jhegarty]

Re: Putting investment property on market-correct way to give notice to current tenan

I assumed that their legal rights under the 2004 Residencial Act kicked in automatically once they were there longer than six months, and this overrode all other agreements? Also, there seems to be a bit of confusion over the legal notice period to be given when they are in arrears, is it 28 days or 35 days?

That's for a Part 4 lease (month to month). You have a fixed term lease , there is no notice period as it goes on until the end of the contract.

 

[hunter09]

Re: Putting investment property on market-correct way to give notice to current tenan

That's for a Part 4 lease (month to month). You have a fixed term lease , there is no notice period as it goes on until the end of the contract.

Not sure I understand. So if they are in breach of the fixed term lease for not paying the rent, does this mean I cannot serve them an eviction notice until the contract ends (in five months time)?