UK Landlord Forum / Life

My tenant signed a 5 year AST due to start in January 2014 and scheduled to end 31 December 2018 - it was registered and signed as a deed.

He has now come to me and says he wants to rip it up. However, he is excellent credit risk (took full references) and the AST included very substantial rent rises to cover the fact that tenant REQUESTED 5 year AST with no break clauses. Therefore, if I allow him to walk I will lose that very lucrative deal which took a long time to agree.

Can I just insist he stays and pays out of contract to the end? There is a clause stating that if he walks out, I am eligible to claim full rent for remainder immediately.

Luke

I would try and sort a deal out with him and get new tenant so you'll earn more, or if hes not willing make him aware of your legal rights!!

Thanks - it is unlikely I will find tenant as good especially at these rates - can I hold him to full 5 years? and sue him if he doesn't pay?

Yes

nice - just what I wanted to hear! What is best - hard hitting legal letter?

What you want to hear is not necessarily what is going to be best for you in the long run.  I know this must be disappointing but you might choose to think long and hard before holding a prospective tenant (or anyone) to something that they really don't want (legally binding or not) and strike a mutually acceptable deal instead... - ?  Just a thought.

No - time to crush him - he's very cash strong and after 3 months of negotiating the deal, he's going to be held to it - hard unless I hear I'm legally not strong

His signed the deal is done ££££££££££££££££££££££££££££££££££££££

So everyone thinks I should press him to full 5 years?

hahahha, pressman, yes left-wing namby pamby losers might side with him, but who cares? Take the barstweard for everything he's worth. Good luck to you.

The people who say make a deal, et al. are just jealous of your position, its called "crab mentality"

Thanks TSJ - just sort of encouragement needed - I feel very strongly he should be held to agreement he very specifically demanded - if I wanted to pull out in same circumstances, would everyone say "yes you can" - no I'd be told that's not possible. Got to be two way.

Tenant better watch out, the heat is being turned up nice and slowly..... if you could send me private message TSJ with contact details that would be good.

Any other views welcome.

In the long run it would be better to let him go. Don't be greedy. He may stop paying the rent and thrash the place then you will be begging to get him out.

My guess is if you hold him to the contract it will all end in tears for you. You have been warned.