Continue tenancy?

Darkest Horse

Hi all. I have been renting a one bed apartment to a tenant for almost eight years. The tenant has been generally good but has often had trouble paying rent, though to be fair, he owes me no money. With the eight year mark approaching, I'm aware that I can now end his tenancy without giving a reason and because I will be doing an upwards rent review, I'm a little unsure of whether he can sustain the increase. I don't want to hammer him but for 8 years, the rent has been well below market rate. Has anyone been in a similar situation and am I likely to meet with resistance if I choose to end the tendency? It's not something I'm entirely comfortable with as I have to do the negotiations myself.

Get rid of him, not sure why you would even debate it to be honest. He has a record of being slow with rent so why would you want to continue with him especially if you want to increase the rent. Also you are suggesting losing out on rent by not increasing to the market rate incase he can't sustain it, that's bad business.

Get him out and get in a new tenant at the full market rate.

Baby01032012

I second the above.

As for knowif whether he will resist being asked to leave, no one knows your tenant. They may leave accordingly or they may decide to over hold and stop paying rent through rtb process and the courts.

Darkest Horse

Thanks for the input guys. I am aware of the notice periods I need to give but is it a good idea (or even legal) to give extended notice if I were to end the tendency in order to give him time and lessen the chances of holding over?

Kings Inns or bust

Darkest Horse wrote: »

Thanks for the input guys. I am aware of the notice periods I need to give but is it a good idea (or even legal) to give extended notice if I were to end the tendency in order to give him time and lessen the chances of holding over?

Get proper legal advice, but I wouldn't. Do everything by the book.

davo10

Op, it is going to be the easiest it is ever going to be to raise the rent or evict the tenant, at the end of a Part4 cycle. After that it gets gets even harder so if for financial reasons you wish to raise the rent or your gut tells you to move the tenant out, now is the time to do it. Just make sure that you have the notice period right in either case and you have proof of market rate if you are increasing the rent.

The_Conductor

If you have not significantly increased the rent (by at least 100% since the commencement of the tenancy 8 years ago)- the current rent is significantly below market rates. By your own admission, you've had issues getting the rent in the past- at reduced rates- unless the tenant's circumstances have changed significantly for the better- you can be certain its only going to get worse.........

You have been subsidising the tenant thus far- are you willing to continue doing so- for the sake of a quiet life- is the question.

Easiest answer- from a business perspective- is to give notice- and give the tenant as long as possible.

Explore exactly what the rent going rate now is- and advertise it at this in the interim- to guage demand?

Darkest Horse

Thanks all for the great advice.