What Happens When Your Rental is Being Sold
As a tenant living in a rental property, you need to be aware of your rights. Fortunately, due to recent reforms in legislation, you’re now more protected than ever when it comes to matters of eviction and deposits. But what if your landlord tells you they’re planning to sell the property where you live?
First things first, don’t panic. If you’ve signed a tenancy agreement, your landlord must stick to it, even if they’re planning to sell the property.
In this quick read, we look at some questions you might have if your landlord decides to sell.
Will I be evicted?
While there isn’t a straightforward answer to this question, you can’t be evicted just because a landlord is selling. Instead, landlords must follow a set protocol.
If you’re within your contract period, there are no legal grounds for the landlord to evict you (unless you have breached your contract).
If your contract has a break clause, they must give you two months’ notice before the clause date, or two months’ notice before the end of the tenancy.
However, if your fixed contract has run out or you’re on a rolling contract, you should be given two months’ notice if the landlord wants you to leave.
Do I have to allow access to the property for viewings?
You must be informed at least 24 hours in advance of a viewing, and it must be at a reasonable time. Try and agree the viewing appointment for a time that’s convenient for everyone.
Who is responsible for repairs and maintenance when my rental address is on sale?
Your landlord is legally responsible for all repair and maintenance issues whilst they own the property. This does not change, even whilst the property is on the market.
What happens once the property has been sold?
If you’re within your contract period, then nothing should change apart from the landlord. You can carry on living in the property as per the terms of your tenancy agreement.
The new landlord should contact you within two months to advise you of the change of ownership and provide their name and contact details. They may want to carry out safety checks to ensure the property is fully compliant. Your original deposit will be transferred to the new landlord, and they should let you know which tenancy deposit scheme they are using.
If you’re looking for a new rental property, please get in touch with our lettings team at Carver Residential.