Updating post from Reddit.
Currently using a managing agent (Haart) for a rental property. Coupled with difficult tenants, mortgage deal ending next year and simply a lot of hassle for not much in my pocket after tax and expenses, I want to sell up.
I would like to have a vacant property for sale but I'm in a 2 year contract via Haart with the tenants ending in October this year. I have to give 3 notice period which I plan to in July but I am conscious that the renters reform bill might come in before then and I just want to get ahead of that to avoid any extra hoops to jump through as I believe the tenants wont accept the eviction.
Is it possible to end fixed term tenancies early or do I have no grounds to do so?
As a side note, anyone looking for a managing agent, don't use Haart. They offload everything to a central call centre in Colchester regardless of location, use contractors with astronomical fees and the 'local' estate agent is nothing more than a shop front for sales.
The renters reform bill still allows eviction on the grounds of wanting to sell the property so you should be OK on that issue. It’s not possible to end fixed terms early unless the tenant agrees, though the renters reform bill will get rid of fixed terms altogether and allow tenancies to be ended by either side at (I think) three months notice, the landlord will need to have appropriate grounds to end a tenancy like rent arrears or wanting to sell.
It’s a bit confusing but from what I understand with the RRB you have to serve 4 months’ notice to sell and it cannot be done in the first 12 months of the tenancy. But given it’s not been made official that may change.
No the RR bill is not final yet I don’t think. Also I’m not sure if it will override existing fixed term tenancies or whether they will continue until they expire.
They will override any existing tenancy agreements.
The Renters Reform Bill wont be implemented until 2026,,even if it gets through the Lords this summer (which is where its currently stuck). I wouldnt worry OP and yes ensure your notice is served correctly for October.
Do you have source for 2026 implementation?
Govs impact assessment in September 2024. They anticipated a roll out starting late 2025 with it fully operational in 2026. (This was based on an anticipated Royal Assent by Easter).
Royal Assent doesnt mean it applies immediately. For example, the judiciary need to then assess what, where, how it applies and issue new judicial guidelines
As it now stands, the date has already been pushed back in the Lords back since this assessment was done and theres anticipated bun fights regards requested amendments, so the general feeling is it may get Royal Assent by the summer, meaning the bill wont be implemented until 2026.
If they do achieve Royal Assent by Easter, then this assessment is quite close to how it will be rolled out.
Thanks all, I was aware that I could still sell up after the renter reform bill but I'm sure there must be more conditions attached to it. Without it I would most likely just serve s21 notice with enough time to get them out on October and good to hear nothing would be in place until 2026 most likely.
You could sell the property to investors as a tenanted BTL. Then you don't need to be concerned about giving notice to the tenants since the new owner would become their landlord.