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Sell Your Tenanted Property

Sell Your Tenanted Property | Middlesbrough

Sell My House Quickly Middlesbrough found this interesting article if you are looking to sell your tenanted property – Should you sell your buy-to-let as tenanted or vacant?

Once you have decided to sell up, it is important that you talk to your tenants – who knows, they may even wish to buy the property themselves. If this is not on the cards, you will need to decide whether you want to sell the property as a tenanted buy-to-let or a vacant home on the open market. Both options come with pros and cons:

  • If you sell a tenanted property, your target market will be limited to other landlords, who might be attracted by the prospect of having rent coming in from day one. The downside to doing this is that there are lots of administrative hoops you will need to jump through.
  • If you sell a vacant property without sitting tenants, you will be putting your home on the open market, which could achieve a higher selling price. Of course, you will need to follow the correct procedures to evict your current tenants first, and you may need to spend money sprucing up the property before you are able to sell it.
Sell Your Tenanted House
Sell Your Tenanted House

 

Either way, communication and goodwill between you and your tenants are vital, as the tenants will need to agree that prospective buyers can enter and view the property (especially if this is not formally specified in the tenancy agreement). The state of the property when potential buyers look round could also have a big impact on your sale, and your tenants may feel more inclined to tidy up if you have a good relationship with them.

Further reading, head over to Which magazine.

If you need to sell your tenanted or vacant buy-to-let, Sell My House Quickly Middlesbrough offers fast cash advancements. We buy properties in any condition. Call us today on 07495 367 039, or click here and fill out the form.

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