CRT selling property

[beerbeerbeerbeerbeer]

I noticed coming up through Atherstone locks today the old lock cottages are up for auction. A local reckoned the tenants will have to bid along with the others. Is this going on nationally ? Are CRT raising money by selling property? Looked for discussion on this but found none.

[Arthur Brown]

Well if there is a tenancy, they can sell but with sitting tenant.

[CV32]

The one at top lock has already been mentioned

http://www.canalworld.net/forums/index.php?showtopic=50074&st=0&p=932960&hl=atherstone&fromsearch=1entry932960

[MtB]

Well if there is a tenancy, they can sell but with sitting tenant.

 

Oversimplification of the decade, I suggest! It depends entirely on the type of tenancy.

 

Plenty of tenancies these days can be unilaterally terminated by the landlord subject to statutory notice periods being complied with, allowing the owner to offer vacant possession on sale.

 

Mike

[sueb]

I noticed coming up through Atherstone locks today the old lock cottages are up for auction. A local reckoned the tenants will have to bid along with the others. Is this going on nationally ? Are CRT raising money by selling property? Looked for discussion on this but found none.

BW/Cart have been selling off everything they can for years, especially if it has historical value. They then invest the money in hairbrained schemes such as pubs and Gloucester quays

[kingofthecut]

I thought that particular house at the top lock was empty, although that doesn't take away from the general point behind the post.

Empty property is not cost effective to keep as bills still need paying but surely renting them would create an income stream and keep them on the asset register. I am sure the acountants have a reason for knocking them out - I just hope it isn't for short term cash which will be regretted in the mid to long term.

[Biggles]

Oversimplification of the decade, I suggest! It depends entirely on the type of tenancy.

 

Plenty of tenancies these days can be unilaterally terminated by the landlord subject to statutory notice periods being complied with, allowing the owner to offer vacant possession on sale.

 

Mike

 

Indeed so long as its not a protected tenancy of which there are VERY few still left, a very simple section 21 notice needs to be served which is 2 months from the day of the month the tenancy was drawn. So this could be as much as 2 months and 30 days. After that the LL can go straight to court for an N5B accelerated possession with has to be granted and to which there is virtually no appeal and usually gives the tenant 14days to ship out. After this the court can be approached for a bailiff eviction.

 

So vacant possession can be achieved in under 4 months.

 

Any savvy LL will serve a section 21 at or soon after a tenancy is granted so the initial 2 months is already expired y the time the tenancy has reached its stated end date.

 

Having said all that I'm not sure of the process if the property is tied to employment.

[beerbeerbeerbeerbeer]

Talking with the CRT propagandists they compare themselves with the national trust.

Now, the national trust, generaly don't sell their property off, but rent/lease it at exhorbatant prices and put restrictions on what can be done with it .