General (main property discussion here) - How much notice tenants have to give?

Hi I have Assured shorthold tenanancy agreement, which is in 2nd roll on period and due to run out in mar 2008 but tenants wants to leave just before xmas. any idea on how much notice they have to give and are they still liable to pay rent if i cant find someone till agreement expires. plz advise............

Your tenants have to abide by there contract and if they leave early you can sue them for the remainder of the term i.e. 2 months rent, i assume you have a months deposit so it would only be 1 months rent you have lost, however even at 2 months is it really worth the bother? NO

I recently had tenants sign up for 6 months and 3 months into ther contract they can't afford to stay there, anyway i never have problems renting mine out so i allow anyone to move out, infact i never renew my contracts i just leave them on a flexible basis as i never have problems finding tenants and don't see the point in making them stay.

Im a flexible landlord, 22 houses and hardly anyone ever moves out.

Hi Alex thanks for your help. by the way as you appears to be quite experienced landlord, any areas you will recommend to invest in today market???????????

Thanks

Tough question to answer, however ill try to and hopefully all makes sense. Since house prices have risen it's now very diificult to make a BTL pay with only a 15% deposit, so landlords have to look at other ways of maximising profits from there BTL investment.

A few ways are multi lets, good points = great profit & high Yeilds... Bad points = hard work, more repairs, more time consuming. I do multi lets and they can be hard work and time consuming but the profits are great

Another way is find out where all the working imigrants i.e. poles, slovakians ect are working and buy houses close to there, rent them to these people fully furnished, no deposit and add £200 to £300 on top of the rent you would normally get. Im doing this now and it's a winner.

You have to remember BTL's are a business and not a 9 to 5 job. with any business your always looking at ways of maximising your profits and in tough times you are looking at ways of advancing instead of just holding onto what you have.