You can after two years vacant or on upgrading property by a significant degree. A no fault ending of tenancy would only be after serving notice tevicting tenant for permitted reasons, normally to use for family member or sell.Can you reset rent to market rates if it's left empty for some period of time?
As long as there is no registered tenancy w RTB for 2 years, you can reset to market rent.Can you reset rent to market rates if it's left empty for some period of time?
Saw a couple of these in last year or so and they eventually sold for about 20-25% less than typical market rate for vacant possession houses around them. It would depend on the actual rent and the profile of the tenants as well as the typical vacant value.Seeing quite a few properties for sale with tenants in situ at low monthly rent. What is the accepted method to calculate the property value in such cases?
Monthly rent x 12 x ( how many years?)
A lot of these would have good demand from FTBs, many of whom are happy to take on a "tired" property that needs a little work but is liveable. They cannot touch these properties themselves but technically, if you are a cash buyer or getting a BTL mortgage you can borrow on these (an owner occupier I'm told would have difficulty in getting a mortgage on a property with a tenant-in-situ, or more correctly a solicitor willing to sign off in those circumstances AND a bank happy to still lend on assumption you can evict AND pay rent etc).No real accepted method. Depends on specific circumstances. Is there a good demand from potential owner occupiers? Would an incentive of a few grand shift the tenant? Can you renovate the property to come within RPZ exemptions?