Has the government just killed HMOs with the stupidity of 3 year contracts?
Background - just a small landlord with 3 furnished semis equipped to very high spec - no loans outstanding - let as rooms with shared ground floor.
This in place of a pension since politicians killed the rate of return on all other investment!
You would have thought the government would be grateful! Since it is creating affordable accommodation, in shortage areas to high spec,
Yet now we see the spectre of 3 year tenancies making hmos impossible!
Why? Because to sell the house on , or change use, you can be waiting three years to get access with just one tenant left.
Whic h makes the economics non feasible during the wait,
I am all for equitable contracts, but so far every tenant I've offered a 12 month contract has preferred 6, even though most stay years.
Till nI could still serve notice in an emergency( say) , like needing to fund residential healthcare for a partner .
As I understand it the proposal is non reciprocal rights,
Who else is thinking of bailing out now?
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