Landlord has sold! Possibility of staying put?

[Progressive]

Following my posts last month, the situation is as follows:

The landlord has accepted an offer on the flat I currently rent from him (1 month rolling contract). He has subsequently issued us with our 2 months notice, to take effect from 21st April. Our 'move out' date is therefore 21st June.

A couple have bought the flat as an investment (buy to let) and will be looking for tennants. According to my landlord they would be happy for me to stay should I want to. No details discussed regarding contract length, rental cost etc.

What would be the sensible thing to do in my situation? I am happy to stay (if they want me). I can't see why they would want somebody else in due to my track record with my current landlord, they have met me, they have seen the flat 'lived in' which I do look after. They also stressed that they are looking for a long-term tennant rather than a different one every 6 months.

MY CONCERN THEN:

The new landlord says I can stay, same situation, all good. 21st June comes round and they change they mind (want to re-decorate, move a friend in, leave it empty etc). I'm not in contract with anyone so would have to leave.

I guess my question is, even though I would like to stay put, should I prepare to move out and secure somewhere else on the small chance the new landlord has a change of heart.

Furthermore, is there any way I can gain security of knowing I won't be homeless?


Cheers,

[rich1231]

Why are you asking us and not the Landlord and new Landlords?

[scotal]

Speak to the new landlord, if you can strike a deal with them, then be prepared to sign a new ast and stay pur for 6 months.

[RedWhiteMonkey]

You're worrying about things that no-one on here can really help you with. As the others say the only way to deal with this is to speak to the new landlords.

[Herbs]

If you're concerned about being stitched up and left homeless then arrange contact with the new owners and get a signed AST off them. If this hasn't been forthcoming within 4 weeks then find somewhere else - it's the only way for peace of mind

[Progressive]

I think my badly worded question was getting at, can I enter into a AST with the new landlord who effictively doesn't own the property yet. Is it worth the paper it's written on?

[Jobbo]

Progressive said:

I think my badly worded question was getting at, can I enter into a AST with the new landlord who effictively doesn't own the property yet. Is it worth the paper it's written on?

You can enter an AST with them but it'll only have effect if they complete the purchase. So if the deal falls through, or they don't own the property until after the date when your notice expires, you've got to get out.

Speak to the new landlord, agree an AST with them, then agree an extension to your current arrangement with the existing landlord. Or get your existing landlord to put in place a new AST starting at the expiry of your notice (but dated today) which the buyer will buy the property subject to... this only works if they have told their mortgage company that it's a buy to let, though. If they're being sneaky and obtaining a normal residential mortgage then they'll strictly need you to get out for a day when they complete so they can have vacant possession.

[jimmyjam]

See, had you been a PITA about viewings then these people may not have seen it and may not be buying it or heard that you were awkward with viewings and maybe not want you as a future tenant. It all comes around.

[Progressive]

jimmyjam said:

See, had you been a PITA about viewings then these people may not have seen it and may not be buying it or heard that you were awkward with viewings and maybe not want you as a future tenant. It all comes around.

Definitely! I was in when they viewed and was very polite and had the place ship shape. I also contributed to the pitch with regards to the local facilities as the current LL isn't local. They seemed very thankful as they were leaving. Hopefully, things will continue positively!

[Wings]

If I were in their position, the potential new owners/landlords, then I would be more than happy to keep on the present sitting tenant/s.

Whilst a contract can be verbal, it is best to have in writing, the same can either be via e-mail or in a form of a letter, indicating that they are happing to allow you to continue as a tenant under their ownership.

If the new owners/landlords subsequently changed their minds at the 11th hour, then legal, court proceedings and the decision of the court, would both extend your occupancy of the property, and be favourable to you the tenant.

[TimCrighton]

The Solicitors will need to factor into the conveyance any tenant in occupation so raising this issue with them asap is a good idea. It potentially creates an 'over riding interest' to have a tenant in occupation at the point of completion this can be a problem, particularly if they don't have a lease (as you would not as your landlord has served notice on you).