|
A PRIORI
ABANDONMENT
ABSORPTION RATE
ABSTRACTION METHOD
ACCELERATION CLAUSE
ACCESSORY BUILDING
ACCRETION
ACRE
ACTUAL AGE
ADJUSTMENT DATE
AD VAL OREM TAX
ADDENDUM
ADJUSTABLE-RATE MORTGAGE (ARM)
ADJUSTED BASIS
ADJUSTED SALES PRICE
AESTHETIC VALUE
AFFIRMATION
AFFORDABILITY ANALYSIS
AGENT
AMENITY
AMERICAN SOCIETY OF APPRAISERS
AMORTIZATION
AMORTIZATION SCHEDULE
AMORTIZATION TERM
AMPERAGE
ANNUAL PERCENTAGE RATE (APR)
ANNUITY
APPLICATION
APPRAISAL
APPRAISAL FOUNDATION
APPRAISAL INSTITUTE
APPRAISAL PRINCIPLES
APPRAISAL REPORT
APPRAISAL STANDARDS BOARD (ASB)
APPRAISED VALUE
APPRAISER
APPRECIATION
ARMS LENGTH TRANSACTION
ASSESSED VALUE
ASSESSMENT
ASSESSMENT RATIO
ASSESSOR
ASSET
ASSIGNMENT
ASSUMABLE MORTGAGE
ASSUMPTION
ATTACHED HOUSING
|
Property Abandonment
Legally,
property abandonment is the voluntary surrender of a legal right, for example,
an interest in land or property - a tenancy.
Tenants sometimes leave their
accommodation unoccupied for long periods or may leave entirely, or appear to
have left early, before the end of their tenancy term (term certain), usually 6
or 12 months in the case of an Assured Shorthold Tenancy.
Problems for the
Landlord!
This action may be in breach of the
tenancy agreement as these usually state that the property must not be left
unoccupied in excess of two-weeks without informing the landlord.
This situation puts the landlord in a
difficult position for several reasons:
- Insurers usually
stipulate that they must be informed if the property is to be unoccupied for
periods in excess of 14 days, and may increase the premium due to the
increased risk in these circumstances.
- Unoccupied
properties become targets for vandals and create nuisance complaints from
neighbors, possibly then involving the local authorities.
- Unoccupied
properties are vulnerable to occupation by squatters
An important point is, is the rent still
being paid? Even so, the tenant still has her rights, even if the rent has not
been paid, and there are very severe penalties for any landlord who can be shown
to have illegally evicted a tenant.
Not only is illegal eviction a criminal
offence, the landlord can find herself at the receiving end of a claim for civil
damages. This could result in damages of several thousand pounds - the
difference between the value of the property when occupied by a tenant and that
when sold with vacant possession!
What Should the Landlord Do?
A landlord or agent in this position has some
difficult decisions to make:
- What legal right
has the landlord or agent got to re-enter the property?
- If it is very
obvious that the tenant has left for good, can the property be re-let?
- What should happen
to any of the tenant's possessions which may have been left behind?
- What would be the
consequences if the property is re-let and the tenant returns?
Never be tempted to change the locks and
remove tenants' possessions in such circumstances. If you have handled the
tenancy application correctly you should always have sufficient information to
contact the tenant or a relative.
You need the agreement of the tenant that she
has actually abandoned her tenancy rights, preferably in writing in the form of
a notice to quit. You also need the return of the keys - this is an important
point as returning the keys is a clear indication of the tenant's intent.
If the tenant appears to have abandoned the
property, but you have no written confirmation, important points are:
- Is the rent still
being paid?
- Has the tenant left
the keys to the property?
- Can you contact the
tenant or a relative?
- Do neighbors have
any knowledge?
- Can you see through
the windows if the tenant's possessions are still in the accommodation?
If the above points indicate abandonment and
the property has been left in an insecure state, or you suspect internal
appliances could present a danger to the property and/or neighbors, then, and
only then, may you have a case for entering the premises and possibly fitting a
secure lock.
In this case:
- You should have a
reliable independent witness willing to confirm the circumstances in
writing. You may consider contacting the local authority's Tenant Relations
Officer.
- You leave a clear
notice on the door informing the tenant that the lock has been changed and
that if they require access they must contact you at the address supplied to
obtain a replacement key.
- Remember that you
do not want to encourage squatters - notices displayed too prominently may
do just that!
- Under no
circumstance must you deprive the tenant/s of their rights to access.
Taking these precautions may enable you to
re-let quickly (seeking a possession order can be a lengthy process), but if in
doubt seek expert advice on the specific case locally, and seek the assistance
of independent witnesses.
Be aware that savvy tenants may be aware of
the damages they can obtain, and it is not beyond the realms of comprehension
for a tenant to attempt to trap a landlord into illegally evicting them!
If the tenant does appear to have abandoned
the property but other evidence introduces doubt, or you cannot confirm this,
you should obtain a court possession order before taking over the property or
re-letting.
Landlord Guide
- Check the property
regularly, without interfering with or harassing the tenants, to make sure
it is still occupied as well as carefully monitoring rent payments. Also
consider:
- Asking a
neighbor to monitor tenants' movements for you.
- Provide a
weekly cleaning service within the tenancy which means that the
condition of the property is also carefully monitored.
- Whilst in
occupation and for the duration of the tenancy, tenants have a "legal
estate" in the property and a right to treat the premises as their own,
within the terms of the lease - harassment has very serious consequences.
Real Estate
and Mortgage Terms
A
B C
D E
F G
H I
J K
L M
N O
P
Q R
S T
U V
W X
Y Z
#