Looking At The ‘Stats’

Posted by Clive Emson Auctioneers on 14th July 2022 -

No, we don’t mean STATS as in facts and figures, charts and graphs – but investment properties which are subject to an older style tenancy agreement often referred to as ‘Statutory or Regulated Tenancies’.

Most residential lettings by a non-resident landlord which began prior to 15 January 1989 will be Regulated Tenancies under the 1977 Rent Act. These tenancies need not be in writing while many may be registered with the Fair Rent Officer in which case they will have a Registered Rent.  Since 15 January 1989, most new lettings have been Assured or Assured Shorthold Tenancies and today when buying a residential investment property, you are more likely to see this type of tenancy (Assured Shorthold), however when we do offer Statutory/Regulated tenancies they can be a great buy. The Regulated tenant has certain rights regarding the amount of rent they can be charged and have security of tenure. Like so many things in life there are always exceptions to the rules, so our advice before bidding for any property or parcel of land is always take independent advice before bidding.

So why buy them?

They are usually offered for sale at below their perceived open market price (assuming vacant possession) so are often seen as a great investment for the future and as and when the property becomes vacant they are once again great auctions lots, as they will often require improvement to some degree. In fact we have sold many vacant properties which were once let to statutory/regulated tenants.

So what ‘stat’ properties are on offer?

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