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Selling investment property - new rules on notice

  • 30-12-2016 8:42pm
    #1
    Hannaho
    Registered Users, Registered Users 2 Posts: 733 ✭✭✭


    I'm confused with new rules. If I want to sell my investment property now, it is my understanding that I can no longer give my tenants the required notice to leave  so that I can sell the property, which means that they would be in the property at time of selling? Could someone clarify this for me? It seems to me that we may be going back to the era of sitting tenants - I remember this with a house my mother had rented to a couple at very low rent for many years.


Comments

  • #2
    April 73
    Registered Users, Registered Users 2 Posts: 846 ✭✭✭April 73


    Is this not just the case for a LL selling multiple properties at the same time? Not single dwellings?


  • #3
    Hannaho
    Registered Users, Registered Users 2 Posts: 733 ✭✭✭Hannaho


    Ok. So if I have only one property to sell - there is no issue - I just give the tenants the required notice as per PRTB rules, and they leave before I put the house on the market?


  • #4
    davindub
    Registered Users, Registered Users 2 Posts: 1,447 ✭✭✭davindub


    Hannaho wrote: »
    Ok. So if I have only one property to sell - there is no issue - I just give the tenants the required notice as per PRTB rules, and they leave before I put the house on the market?

    Not necessarily but try anyway, the issue is if they appeal. You might try the nicest possible approach to prevent this. Talk to the solicitor who will be handling the sale before doing anything.


  • #5
    Hannaho
    Registered Users, Registered Users 2 Posts: 733 ✭✭✭Hannaho


    OK. So this is worse than I thought! They could appeal and actually get to stay in the house even though I want to sell it? Is this actually the case?


  • #6
    Graham
    Moderators, Society & Culture Moderators Posts: 17,643 Mod ✭✭✭✭Graham


    Hannaho wrote: »
    OK. So this is worse than I thought! They could appeal and actually get to stay in the house even though I want to sell it? Is this actually the case?

    Unlikely they would get to stay in the house but it could drag things out.

    Remember this is not the normal way it plays out when a tenant is given notice. Most of the time the tenant will move out at the agreed time, you check the house and return the deposit and you all live happily ever after.


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  • #7
    davindub
    Registered Users, Registered Users 2 Posts: 1,447 ✭✭✭davindub


    Hannaho wrote: »
    OK. So this is worse than I thought! They could appeal and actually get to stay in the house even though I want to sell it? Is this actually the case?

    If you have not followed the process that would be a risk. As I said use your solicitor, he needs to witness the statutory declaration that you intend to sell within 3 months anyway.

    The trouble comes if the tenants appeal, as Graham points out this will be a minority of tenants. But conduct the process correctly.


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