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FRIDAY FUNNIES: House for sale with a side of tenant

12 September 2014 Staff Reporter

A terrace in England could be yours for half its predicted sale price, as long as you want a tenant who can never be evicted.

The house in Staffordshire is worth £60,000 (AU$105, 735), but is home to an elderly resident who signed a protected tenancy agreement more than 25 years ago.

The elderly resident signed the protected tenancy agreement because it allowed him to stay as long as he wishes for a rent of just £20.50 a week, as reported by the Mirror.

Auctioneer Dean Reeves said neighbouring homes in Etruria, Staffs, were worth £60,000 but this one would go on sale on Monday evening with a guide price of £25,000 (AU$44,049).

He explained that anybody who purchases the terrace has to keep the tenant as well.  

“The tenant is basically there for as long as they want to be there,” he said.

Protected tenancies, which offered long lets with strict rules on rent rises, were axed by the Thatcher government in 1989 and replaced with assured short hold tenancies.

However, there were about 100,000 still active two years ago, according to the Mirror.

Mr Reeves added: “It’s people who have, very often, been in a property for a long time. Often they’re elderly, but not always – sometimes they can be passed down through generations.”

Stoke Citizens Advice Bureau added: “This is not unheard of, but very rare.”

 

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FRIDAY FUNNIES: House for sale with a side of tenant
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