soppycods13 Posted May 10, 2015 Report Share Posted May 10, 2015 Hello, My sister and I have been letting a 4 bedroom house in East London for the past 10 years. This has proved to be amazing. It is close to a University and we have never had any trouble at all finding tenants. We let it as a house, not individual rooms and it has worked out well. We have never had any trouble getting a current rent of £2100 per month. We are getting older and do not live in the area so we are selling and intend buying closer to home. My question is, would a buyer prefer the house empty or with tenants already in place? 3 out of the 4 tenants there have said they would like to stay. They have friend who would take the 4th place at the end of this tenancy in July. Any views would be appreciated please. Link to comment Share on other sites More sharing options...
Melboy Posted May 10, 2015 Report Share Posted May 10, 2015 Go ahead. I have bought and sold properties with tenants in place....If you can find a buyer to accept a proven track record of good tenant occupation and little or no tenancy problems I am sure you will achieve a quick sale especially in London. Link to comment Share on other sites More sharing options...
soppycods13 Posted May 10, 2015 Author Report Share Posted May 10, 2015 Thank you very much for that! And for the quick reply! Link to comment Share on other sites More sharing options...
Richlist Posted May 10, 2015 Report Share Posted May 10, 2015 Selling with tenants in situ has historically limited the sellers market. But in the last few months with... low interest rates, better mortgage availability, pensions reform and the General Election result....many more people are looking to buy a property to rent. The big advantage of selling/buying with tenant in situ will usually mean the buyer doesn't face a void on completion. The downside is that some lenders don't like tenants in situ and require vacant completion. Link to comment Share on other sites More sharing options...
Grampa Posted May 10, 2015 Report Share Posted May 10, 2015 We have sold many properties over the years with tenants in situ to both owner occupiers and professional landlords. If a buyer wants it for themselves you may just have to serve a s21 as soon as the property goes under offer. The downside is tenants start to look elsewhere as soon a for sale sign goes up due to the insecurity but if they are in a fixed term they still obviously have security until the tenancy ends. You will have the risk of a empty period if the tenants vacate and the property is slow in selling. You will also likely (not always) attract under market offers from professional landlords. Link to comment Share on other sites More sharing options...
Jhieko Posted May 14, 2015 Report Share Posted May 14, 2015 It will be between you and the new owner agreements. Link to comment Share on other sites More sharing options...
Grampa Posted May 14, 2015 Report Share Posted May 14, 2015 What will???? Link to comment Share on other sites More sharing options...
ukhappyuk Posted May 15, 2015 Report Share Posted May 15, 2015 i have sold with and without and without is smoother and in my opinion the easier option and opens the property up to a wider market. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.