Evictions - A Sitting Tenant's Rights

If you have a property that is occupied by a sitting tenant you may not be aware that you do not have the right to have them removed as they have security of tenure which means that they have the right to stay in their home until they die! That's not all, upon their death and in certain circumstances the tenancy may be passed on to a member of their family meaning that you have another sitting tenant! This is not as uncommon as you may think, for example if a son or daughter was born in the house and still lives there they will automatically qualify as an assured tenant. These types on tenancies are still saleable but they are worth less than if the house was vacant. Depending on the location, age of the tenant and the rent being paid, the property will be worth around 50-60% of it's vacant value. Unfortunately during the bank crisis it is virtually impossible to get a loan against a tenancy of this nature.

Source: http://EzineArticles.com/4274033

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