With our anti-landlord media and what appears to be a government policy to drive landlords out of the property market, it is no wonder you are considering selling your property with tenants in situ. You might be wondering how much a sitting tenant devalues a property.
We believe landlords provide an essential service by putting roofs over people’s heads – and providing a safe accommodation that their tenants can call home.
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How To Sell A Tenanted Property?
With a huge increase in legislation, landlords have become immigration officers with right-to-rent checks, paying an inflated amount of tax on rent turnover rather than profit, and now being threatened with lifetime tenancies. Many landlords voted for the Conservative party, hoping they are the party for businesspeople, but Conservatives appear to be implementing Labour’s policies.
Many landlords have decided that enough is enough, and they wish to sell their investment property and move on. We understand that you wish to make a financially right decision.
What does a property sold with tenant in situ mean?
Selling a tenanted property can leave you in a quandary, as you might not want the hassle of evicting the tenant. There’s a possibility that the tenant can stop paying rent or damage the property. We have a solution for selling your property with tenants in situ.
We have a confession to make. We absolutely love tenanted properties. This is because we see them as income-producing assets.
Yes, they may need a refurbishment at the end of their tenancy agreement, but they are still far superior to an empty property that is not making any money. You can fill in our enquiry form to see how we can help you sell your tenanted property quickly without the hassle.
Often, properties are sold with tenants in situ. It means an opportunity for anyone to buy a tenanted property who will remain in occupation following the purchase. Since the Section 24 tax has gone live, many landlords are exiting the property sector. This is where Property Saviour can offer to buy your tenanted property.
What rights does a tenant in situ have?
When a house is being sold with tenants in situ, it means a tenant will continue to live there once the sale has completed. The buyer will become their landlord and the tenancy agreement transfers over as part of the sale.
Can you evict a tenant in situ?
It depends on the terms of your tenancy agreement. The government introducing non-fault evictions to stop landlords from selling properties has made it much harder to evict.
If you speak to any estate agent, they are bound to tell you that you should provide vacant possession when marketing a property for sale. They want their commission. Even if you can evict the tenant, you will lose rental income, you could be waiting months in court, and there’s no guarantee that the sale will go through.
Property chains are messy and notoriously known for sales falling through. Another key challenge is conducting viewings. Is worth the hassle of falling out with the tenant, and he/she stops paying the rent and demands that you evict them via a bailiff using a court order? With fewer rental properties on the market, councils and your local Citizen Advice are giving this advice to their clients.
If you have lovely tenants, morally selling with in-situ tenants is preferable to most landlords. The easiest and quickest sale comes from Property Saviour. We’ll buy your tenanted property for cash regardless of its condition.
Can you sell a house with tenants living in it UK?
Yes absolutely. You can sell your property with the current tenant to Property Saviour. We love cash-flowing properties. Even if your property needs work, we will still buy it. With just one viewing, we can buy it, or if you prefer not for us to view it, we will require recent photographs of the property.
Because we are genuine cash buyers, there are no delays. The sale can be completed within 2-3 weeks. How soon can you get your solicitor to prepare a legal pack and send it to our solicitor? We’ll indemnify searches and pay £1,500 towards your legal fees.
Our We Buy Any House service does what it says on the tin. Whether you are a seasonal landlord about to retire or a landlord with a single buy-to-let property, we are here to help you start the next chapter of your life.
2 months notice is required by law. However, UK government is consulting on Fairer Private Sector whitepaper designed to stop no fault evictions.
You simply can’t evict because you wish to sell a tenanted property. Tenant could stop paying your rent and demand that you obtain a court eviction order – this currently has a 12-month backlog.