Landlord Signed Ownership Of My House

[chrissa1]

My landlord has signed over the ownership of the house I have rented for the past 4 years, to his three children. He inherited it from his mother.

One of the children lives in Australia, one lives in London and one lives in, Bristol.

What are the chances that they will be happy to just let me continue renting it from them, bearing in mind that the house next door has been for sale for over two years and has had a lot more done to it, room wise.

Should I ask for a longer rental contract now, like 5 years?

Any thoughts would be welcome.

[ubasses]

Just my personal thoughts but he has probably done it for IHT purposes, and as they live some distance away I should think they would be happy to keep a good tenant and receive a steady income.

[chrissa1]

That's what I am hoping for, ubasses.

[rsvp]

A chat with your landlord is in order chrissa1 just so you know where you stand. I assume that as you know whats going on then you're on good terms so a friendly chat should set your mind at rest.

[chrissa1]

Oh yes. We get on very well. I will have a chat when we renew the lease in October. Do you think I would be pushing it to ask for a five year lease?

[rsvp]

sorry can't answer about the 5 year lease chrissa1 - would suggest maybe a chat before October though just to suss out how the land lies- there may, or may not be changes afoot so it's best for you to be appraised of everything before you ask for. and sign, an extension of the lease.

[chrissa1]

Good point, rsvp. Thanks.

[Dogsbody2]

Suggest you also think about what notice period you as tenant would be willing to give, if you are asking the landlord for a 5 year agreement. Also what (if any) annual rent increase policy you would be willing to accept, and hence what ONS reference point would be used to determine the rate of any increase.
All solvable issues but require thinking about.

[chrissa1]

Thanks, Dogsbody. Good point.