If you end up in a situation where you’ve sold or are thinking of selling your property, but have rental obligations, here’s our advice:
The best scenario is to get the new owners to agree to meet your rental obligations. Your rental sales are actually an asset - and they may like the idea of money coming in on the property in the future! If they are unwilling to do this, then you need to look at the agreements you have in place with your rental guests.
Ultimately, it comes down to what feels right for you ethically, and what you have in writing. In situations where owners have been unable to meet their rental obligations, we recommend you provide some kind of compensation beyond just returning the funds - especially if the booking is for a peak period and/or at short notice (<8 weeks) - such as paying the difference for replacement accommodation (within reason). Also, please actively assist the renters to find replacement accommodation.
If this situation arises, we recommend letting your guests know as soon as possible. The worst thing from a renter’s perspective is having booked a place way in advance for Christmas/New Year, then losing it and either having to pay more last minute, or settle for something not as nice, or not being able to find replacement accommodation at all.
Our advice: be open, transparent and fair!
If the new owner wants to take over your listing, please see this help article for instructions on how to transfer it.
If you want the listing deleted, please see this help article for more information.
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