Letting for 2 years - realistic?
I am going to be working elsewhere in the country for a 2 year period from end of 2026; decent accommodation comes with the job and is at a peppercorn rent.
For various reasons, I am not very happy in my current flat and would intend to move quite soon anyway. I wonder what the good folk on here would advise regarding my options. Selling is not ideal as I paid well over the odds during the housing bubble and I would make a significant loss given how flats are selling round here. Given the new legislation, I am thinking of letting it, and after 2 years:
- Sell (with tenant in situ) in two years, using the extra money saved towards a deposit for somewhere better/closer.
- Section 8 notice after 2 years - (landlord intends to sell) - sell as no 1
- Section 8 notice after 2 years (landlord needs to move back in) - deal with the personal issues, move back in.
Is this feasible? I moved around (within the same city) several times when I used to rent (flat no 1 was crap, flat no 2 kicked me out on a section 8 as landlord wanted to sell). Half the flats in my block are let out, and people do tend to stay 1 - 2 years before moving on. It wouldn’t be suitable for short term lets.
Interested to hear from anyone given the end of section 21. Yes, I know how much fuss and work will have to go into the process of finding suitable tenants, compliance, and so on!