Property Valuation Woes

[Nemesis4909]

Hi all,

I live in Scotland and rent privately from a landlord through a letting agency. I received an email from the agency today to say that the landlord is having a valuation done on the property next Wednesday. I asked why that was and if I should start looking for a new flat and the steer I got was the following:

"They are looking at their options and selling is one of them providing the price that hope to achieve is correct. "

Does anyone know what the most likely outcome is here? I've been told they might be looking to remortgage or it's possible that they may just sell to another landlord. I really can't be doing with looking for a new place right now. I have so much stuff and I have no idea where I'm going to get the money for deposits and such. I live in Edinburgh as well so that causes its own issues.

I suppose I'm just looking for some emotional support here as it's more bad news on top of other bad news ha.

Thanks in advance.

[enaid]

Re: Property Valuation Woes

Hi and welcome,
You have rights as a tenant and you will have the same rights if the property is sold on to someone who still wants to rent out the property.
Even if the new landlord wants to evict you they would have to follow the proper path to do so.
If you paid a deposit on your flat then that should be returned to you all being well if you do ahve to leave and that should hopefully be a start on a deposit on new place.
You have other issues you have said if you think it is anything that we can help you with on here then please post,

[Nemesis4909]

Re: Property Valuation Woes

Yeah I more or less understand the process there. Being issued with a notice to quit with 2 months to go is the norm isn't it? I've had that done to me before and it's unpleasant. Renting really sucks!

The other issues are more personal in nature but I really appreciate the offer. I suppose I should wait until the valuation has been done and take it from there.

[enaid]

Re: Property Valuation Woes

I rent but with a housing association, only really good thing is no repair headaches.
Anyway you may be worrying too soon, but if you are struggling SHELTER are brilliant and will answer all you need to know, good luck