Property horses for courses

In fairness, all perfectly reasonable questions for a would be renter. But here’s the crux of the matter – most tenants are only two months away from perfectly legal “eviction” !

Let me elucidate. The nature of most tenancies allows the landlord to give 2 months notice to re-claim their property. And here’s the double whammy – there is absolutely no obligation on the landlords part to give any reason. So, pure and simple, if a landlord wants a tenant out – he serves 2 months notice and that’s it – job done.

Further, even though a landlord (unlike me) uses the services of a glitzy and prestigious high street letting agent, it doesn’t necessarily follow that the tenant is any safer from being asked to leave. The landlord may be the plumbing equivalent of a one man band – owning but one property. And do you think that the letting agent will volunteer that information – or tell you if asked ? Not on your Nelly they won’t !

Sadly, most tenants only wake up to the reality of the (potential) short term nature of renting – until notice is served, “out of the blue”.

Of course, for some folk, the flexibility of renting is an attraction. It particularly benefits those that don’t want to be tied down to a long term commitment. Others, if financially able, greatly prefer the security and control of their own destiny via home ownership. “Horses for courses” if you will.

Coming back full circle to the earlier “biggie” – tenants may not be able to establish if and when a landlord may sell his property. However, consider this: interest rates are rock bottom, voids (empty properties) are negligible and rents are rising. Further, property sales are firmly entrenched “in the doldrums”.

So, as a landlord, would you be selling right now ? Thought not.

However, renters beware – your ideal home sunny beach may one day turn into quicksand.