Does a Landlord have to re-offer a property after renovation

Bandana boy

I have a friend who is 7 years in a rented accommodation , there is many problems in the house that need serious fixing . The property was taken by the bank 4 years ago as the original LL was struggling with other debts.
The bank has finally found a buyer and new landlord has inspected the property and has given notice that they are to vacate the premises for a refurbishment to be carried out. He has given 5 months notice which My friend is happy to comply with and agrees work is serious enough to need a full refurb.

Does this Landlord have to give them first refusal when refurbishment is complete ? and does the 4% per year rise in fees apply or can he set a new rent amount ?

Property suits my friend for Work and schools and they have a family member who could support them for a few months, if they were assured of getting property back they would go this route and would be happy to give up the property inside 5 months.

76544567

Bandana boy wrote: »

I have a friend who is 7 years in a rented accommodation , there is many problems in the house that need serious fixing . The property was taken by the bank 4 years ago as the original LL was struggling with other debts.
The bank has finally found a buyer and new landlord has inspected the property and has given notice that they are to vacate the premises for a refurbishment to be carried out. He has given 5 months notice which My friend is happy to comply with and agrees work is serious enough to need a full refurb.

Does this Landlord have to give them first refusal when refurbishment is complete ? and does the 4% per year rise in fees apply or can he set a new rent amount ?

Property suits my friend for Work and schools and they have a family member who could support them for a few months, if they were assured of getting property back they would go this route and would be happy to give up the property inside 5 months.

If I was a betting man I would think that your friend will be getting their notice to leave in the next year anyway.
Probably best to find somewhere else and settle in than spend half the year waiting to get back in.
I think your friend is about to become a tenant victim of this new legislation.
There will be loser LLs and tenants because of this.

foggy_lad

They are entitled to get first refusal on the renovated property but the price will be set as a new letting and the 4% won't apply