Tenants on AS Agreement for over a decade - issues??

[Mr Noble]

Just thought I'd ask the PH brainiacs for reassurance.

I'm a lucky chap, as the same two tenants have been living in a property of mine for over 12 years now. They've never missed a payment, have redecorated twice, they tend the garden and are generally clean and tidy. (Two men - if you know what I mean)

Question is.......should I renew their agreement or am I safe and covered leaving them on the old original one from 2002? (Think I was e-mailed it from a friendly letting agent)

They originally paid £950 a month and stayed that way for 8 years till I noticed and put it up to £975, and then last year I asked them to pay £1000, which is currently about £150-200 below what I could probably rent it for (It's a nice 3 bed Vic terrace in Cambridge)

I'm just a bit worried about the horror stories where long term tenants try to "win" the house in huge legal battles.........Apparently if they've looked after the house for years they can claim a legal ownership of it...?


I ought to up the rent again, but figure that it'd only take a one or two month void for me to 'lose' the extra £150 a month I could get, if they moved out when I asked for it.


I only tend to pop over once a year with the gas safety man......that's been it.

Dream tenants or potential future nightmare?



Mr N

[PurpleMoonlight]

You have a periodic tenancy, which effectively means that each months rent payment creates a one month lease.

Providing rent is paid and accepted it does not lead to any adverse possession of the property by the tenant.

[98elise]

Mr Noble said:

Just thought I'd ask the PH brainiacs for reassurance.

I'm a lucky chap, as the same two tenants have been living in a property of mine for over 12 years now. They've never missed a payment, have redecorated twice, they tend the garden and are generally clean and tidy. (Two men - if you know what I mean)

Question is.......should I renew their agreement or am I safe and covered leaving them on the old original one from 2002? (Think I was e-mailed it from a friendly letting agent)

They originally paid £950 a month and stayed that way for 8 years till I noticed and put it up to £975, and then last year I asked them to pay £1000, which is currently about £150-200 below what I could probably rent it for (It's a nice 3 bed Vic terrace in Cambridge)

I'm just a bit worried about the horror stories where long term tenants try to "win" the house in huge legal battles.........Apparently if they've looked after the house for years they can claim a legal ownership of it...?


I ought to up the rent again, but figure that it'd only take a one or two month void for me to 'lose' the extra £150 a month I could get, if they moved out when I asked for it.


I only tend to pop over once a year with the gas safety man......that's been it.

Dream tenants or potential future nightmare?


Mr N

Dream tenants, and they have no claim over your house as they are paying rent.

[Mr Noble]

Phew - thanks for the knowledge guys.

[ikarl]

Agreed, sound tenants! Think a few on here would love tenants like that going by some of the horror stories

[Sir Bagalot]

As others have said no issues.

I have had some tenants for 16 years. Well, I think it's 16 years it's been so long. I'm currently getting £150/200 below market rates but to be honest I have tenants who give me no voids, treat the place as a home which includes decorating it

[Mr Noble]

Sir Bagalot said:

As others have said no issues.

I have had some tenants for 16 years. Well, I think it's 16 years it's been so long. I'm currently getting £150/200 below market rates but to be honest I have tenants who give me no voids, treat the place as a home which includes decorating it

I totally agree. Many would say we're mad for accepting £1000+ a year less than we could attain in rent! but there is defo something to be cherished about having wonderful tenants. They're a rare breed! Most nice tenants are the sort who quickly want to buy their own house!

[98elise]

Mr Noble said:

Sir Bagalot said:

As others have said no issues.

I have had some tenants for 16 years. Well, I think it's 16 years it's been so long. I'm currently getting £150/200 below market rates but to be honest I have tenants who give me no voids, treat the place as a home which includes decorating it

I totally agree. Many would say we're mad for accepting £1000+ a year less than we could attain in rent! but there is defo something to be cherished about having wonderful tenants. They're a rare breed! Most nice tenants are the sort who quickly want to buy their own house!

Any sensible landlord would keep a long term good tenant on a lower rent. 1 months void could easly wipe out any gains from keeping the rent in line with the market, let alone the fact they are redecorating anf looking after your property. I'm a BTL landlord, and I operate the same way.

Its no different to businesses offering discounts to loyal customers, its just good business.

[Mr Noble]

98elise said:

Any sensible landlord would keep a long term good tenant on a lower rent. 1 months void could easly wipe out any gains from keeping the rent in line with the market, let alone the fact they are redecorating anf looking after your property. I'm a BTL landlord, and I operate the same way.

Its no different to businesses offering discounts to loyal customers, its just good business.

I'm wondering if you're my tenant!!?

[avinalarf]

98elise said:

Any sensible landlord would keep a long term good tenant on a lower rent. 1 months void could easly wipe out any gains from keeping the rent in line with the market, let alone the fact they are redecorating anf looking after your property. I'm a BTL landlord, and I operate the same way.

Its no different to businesses offering discounts to loyal customers, its just good business.

Absolutely agree,it's a policy I follow.

[Ecosseven]

98elise said:

Mr Noble said:

Sir Bagalot said:

As others have said no issues.

I have had some tenants for 16 years. Well, I think it's 16 years it's been so long. I'm currently getting £150/200 below market rates but to be honest I have tenants who give me no voids, treat the place as a home which includes decorating it

I totally agree. Many would say we're mad for accepting £1000+ a year less than we could attain in rent! but there is defo something to be cherished about having wonderful tenants. They're a rare breed! Most nice tenants are the sort who quickly want to buy their own house!

Any sensible landlord would keep a long term good tenant on a lower rent. 1 months void could easly wipe out any gains from keeping the rent in line with the market, let alone the fact they are redecorating anf looking after your property. I'm a BTL landlord, and I operate the same way.

Its no different to businesses offering discounts to loyal customers, its just good business.

+1 My current long term tenants pay around £100 / month less than the going rate but I'm happy to keep if that way for foreseeable future. Good tenants are easily worth the slightly lower rental income.