As a landlord, there are many reasons why you might decide the time has come to sell your rental property. These could include:
- A change in your financial situation meaning you want to free up some money
- Finding that your money is better invested elsewhere
- Troublesome tenants!
Regardless of the reason for your sale, you need to be aware of the rights of your tenants.
What are tenants’ rights?
According to gov.uk, these include the tenants’ having the right to:
- Live in a property that is safe and in a good state of repair
- Have their deposit returned to them when the tenancy ends
- Challenge excessively high charges
- Live in the property undisturbed
- Be protected from unfair eviction and unfair rent
These must be adhered to at all times. It is also good practice for you to inform your tenants of your plans for selling and your reasons for doing so, keeping relations as amicable as possible.
Their right to live undisturbed stretches to any potential viewings, so the last thing a landlord needs is a tenant standing in the way of being able to hold viewings at appropriate times, or purposely leaving the house in a condition where those viewing the property will discouraged from wanting to buy.
Can I sell with sitting tenants?
Yes, you can absolutely sell to another landlord or property investor with sitting tenants. The new buyer will take over the tenancy, or draw up a new agreement with the tenants, becoming their new landlord in your place.
Selling a house with tenants in situ is often a less desirable option for most buyers, it is often hard to find somebody who wants to do this, and it may reduce the value. This is due to buyers generally wanting to purchase a house with vacant possession, for themselves to live in, or to find their own tenants and draw up their own agreement.
It is also always a good idea to give your tenants the option to buy. It is not their right and they may not want or be able to, but you may want to provide the opportunity.
Why come to Fast Cash 4 Houses?
If you are in a position to sell your property, or are still unsure of the rights of your tenants, please contact us for advice, a free valuation and a no obligation cash offer within 24 hours.
At Fast Cash 4 Houses, ethics, confidentiality and speed of completion are always the number one priority.
Our team have had many years of experience in the industry and our legal team will keep you consulted throughout the entire process, ensuring complete transparency and a timetable to fit around you.
Do not hesitate to get in touch with us to discuss your property on 01204 294 356 or email the team at [email protected].
We look forward to hearing from you.
