I recently learned that my tenant is looking to vacate my property early to relocate with work.
Fortunately i have a good property agent that has agreed with the leaving tenant they will be liable for rent and bills up to the date a new tenant moves in, thus ensuring no vacancy losses.
I will however have to pay for the usual items with new tenancy agreements, but these should not be material and would have been incurred at the end of the tenancy anyway - ie. more of an acceleration of costs.
The good news is that after re-marketing the property for one day, a new tenant may have already been found that is prepared to pay around 6% higher rent. I'll see how this progresses over the next couple of weeks.
The benefits of a good property agent cannot be underestimated!
Hi
ReplyDeleteWould it be possible to get the details of your agent? The one i have been using is caught up in a business dispute and looks like I will need to replace him.
Cheers
traineeinvestor
Hi traineeinvestor,
ReplyDeleteIts actually a small local one in the UK so it may not be of use to you!
Cheers
Ah yes, that would make a difference.
ReplyDeleteCheers
traineeinvestor