Around four million properties are privately rented in England, and it is estimated that 20% of households will be within this sector by 2016.
With such a large proportion of the housing stock belonging to the industry, it is not surprising that things can go wrong. This can sometimes lead a landlord to repossess their rental property, or recover lost rent.
If a landlord needs to repossess their property, they should ensure that they stay within the law. There are a few reasons for ending a contract and taking hold of the home:
Properties that have been damaged, suffered problems, or are unsuitable for tenants may need major repairs, requiring the property to be empty.
Landlord’s Repossession Rights
The landlord has the right to sell their property when they decide.
- Rent arrears
This issue should be dealt with immediately, before the landlord loses too much income.
This is a rare situation, but should it happen, the landlord should ensure that the property has definitely been abandoned before going in and finding new tenants.
- Bad rapport
If the tenant and landlord do not have a good relationship, landlords can face many problems, including loss of rent. Landlords should always act quickly and professionally.
Repossessing a rental property can be expensive, as rent can be lost, and there are costs for regaining the house, including legal expenses.
The section 8 notice is pricey and time-consuming. The better option is a section 21 notice, needing two months’ notice before the Assured Shorthold Tenancy (AST) ends, or when it is over. Landlords should always observe the law and protect deposits.