Landlords With Sitting Tenants
Despite the difficulties in the property market and the reluctance of banks to lend on any type of investment property we are still looking to acquire flats and houses that are occupied by sitting tenants. We have been purchasing these tenancies for over 30 years and are very much looking to expand our current portfolio of investment properties. The choice people face is whether to sell the house with the sitting tenant in place or wait until the property becomes vacant. It is highly unlikely that the tenants will move out as they are paying a very low rent in comparison with a market rent so there is no incentive to do so. They will not be able to move into another property with such favorable terms as a regulated tenancy.
Landlords Responsibilities How We Can Help
A sitting tenant in most cases will have his rent set by the local rent officer and the rent can only be increased every two years provided you apply for an increase. There are many factors to be taken into consideration by the rent assessment committee when setting the fair rent that will be set and in some instances they will demand that you carry out some repairs if they are necessary. In nearly all rent act tenancies the landlord is responsible for external repairs and decorations, whilst the tenant is responsible for the internal decoration. By law you will also require a gas safety certificate for a property that is occupied by any sitting tenant (provided of course the property has gas).
Prices for protected tenancies have been affected in recent years as it is very difficult to secure finance against a secure tenant that is paying a very low rent. In most cases the landlord is also liable for the upkeep of the outside of the building which is why most properties are in a state of disrepair. Becuase our company only buy properties with sitting tenants we understand the legal issues that surround a rent act tenant and becuase we are not bowwing money against any of our purchases we are able to proceed without any delays. If you need some help in determining the type of tenancy that your tenants have got please look at our assured tenants page.
Properties In Need Of Work Urgently Required
Even if your property is in a state of disrepair we would like to hear from you. We will also purchase properties that have been issued with a dangerous structurs notice from the local authority. We have a team of builders that carry out refurbishment and remedial works to our existing portfolio and will consider properties in any condition. We will also find alternative accommodation for tenants whilst these works are being carried out
Portfolios Of Protected Tenancies Always Required
As well as single units we also purchase property companies that have portfolios of regulated tenancies. We are keen to acquire portfolios of tenancies in one transaction as this is key to our expansion programme. All sales are treated in the strictest of confidence and we will not need to meet any of your tenants. Similarly we want to hear from you if you are selling a single unit.
Freehold Ground Rents | Properties With Short Leases Wanted
Investment property is central to our expansion programme and we are also looking to acquire freehold ground rents with short leases. we want to purchase reversionary ground rents that have leases under 80 years. Our company will make an offer within 24 hours and we will also be able to advise you with regards to section 5 notices and your lessees right of first refusal. If we agree to purchase your ground rents we will serve the requisite section 5 notices on your behalf free of charge. We have cash funds available for these acquisitions and will make instant decisions. We would really like to buy portfolios of ground rents but we will also consider individual ground rents.
Section 5D Notice | No Legal Fees | Quick completion |
As part of our fast track service we will serve section 5D notices on your behalf. This means that as soon as the notices expire we will complete a sale with you. There is no need to send us a contract as we will simply transfer the funds to you as soon as the notices expire. A section 5D notice. if you contact our offices we will be able to advise you in this regard