Renting property

[piccadilly]

i'm not sure if this is the right forum, but is it ever known that aperson sells property they own and then move into a rented property? The reason i ask is because, my step mum is thinking of selling the family home and renting a smaller bungalow, In the future would there be anything to stop the landlord from selling the bungalow, thus rendering her homeless?

[woofgang]

Yes people do sell property and move into rented property for all sorts of reasons. Tenants do have rights but these vary according to what they agree to when they rent the property and if your mum is going to do this she would need to understand what her rights would be.

[JOEYSHABADO]

Tenancy agreements are written to stop the landlord chucking you out when it suits. Thus> "Assured" tenancy.

[Miss Zippy]

In a nutshell, without going in the nitty gritty of landlord and tenant law, there would be nothing to stop a private landlord serving notice on your step mum to end the tenancy (the landlord must serve notice in a specific way, but that's another matter). Most private tenancy agreements are Assured Shorthold Tenancy agreements, that must run for a minimum term of six months (though this can be longer).  During the initial minimum term, neither the landlord or tenant can end the tenancy (well, they can but they will be liable to pay for the other party's losses).  After the minimum period has expired, either party can end the tenancy agreement by giving at least one month's notice (or a longer notice period can be agreed by the parties).  Your step mum could try and negotiate a longer minimum term, say 5 years, but I don't know how willing a private landlord would be to tie themselves into a tenancy for this long. Perhaps your step mum could look into other options, like selling up and buying a smaller home or looking into equity release if she wants to release some cash.

[piccadilly]

Thanks for the advice, miss zippy, i think too that the other two optoins would be better,equity release or buying a smaller place, i just hope that she wouldn't think i'm thinking about my own self interest!

[Miss Zippy]

Depending on her circumstances (e.g. is her mortgage paid off or close to being paid off?), I would have thought it would be in her interests too to live in a property she owns rather than rents. Rent money is �dead� money after all. Plus she�ll have an appreciating asset that she can borrow money against (e.g. equity release) if she wants or needs some cash in later years.

[piccadilly]

Yes the mortgage is well paid off, the current house is too big for one and a smaller place would be best, but it does seem a waste just to spend the sale of a property on rent 

[piccadilly]

she did go ahead with the sale, and moved in, very pleased for her, but i guess not so great for my inheritance!