Editor's note: This brief was summarised by The Property AI Team from a report by Letting Agent Today. Read the original article for full details.
Periodic Tenancies Force Landlords to Consider Selling
Letting Agent Today reports that periodic tenancies are forcing landlords to consider selling. According to the report, a new tenancy cannot be ended for the purposes of a sale within its first 12 months.
Letting agents and inventory clerks should be aware of this constraint when advising landlord clients on tenancy arrangements and potential disposals. Where a landlord wishes to sell, the reported rule means a new tenancy cannot be brought to an end for that purpose during its first 12 months.
The source item does not include further detail on the specific circumstances, the landlords affected, or any figures. Letting agents and inventory clerks seeking the full picture should read the original report.
Source: Letting Agent Today