Ask Lorraine – Due to changes in my circumstances, I have decided to sell one of my Tamworth properties. Is there any way of selling with the tenants in situ. They are lovely tenants who have been renting from me for a number of years, I would like to ensure they are looked after.
Will other landlords buy tenanted properties or must I sell the house with vacant possession?
Many Thanks Rodney
Lorraine’s Answer – Hello Rodney
I understand you are trying to do the decent thing by your tenants but you do not owe them anything.
There are many landlords who would welcome buying a property with a good solid tenant in situ. Generally good, long term tenants are an asset to a sale, rather than a problem.
How about offering a financial incentive for the tenants to help you sell for the best price possible?
Whatever route you decide to go down, the new landlord is duty bound by your Tenancy Agreement until the end of its term, so please ensure that your tenants are made aware of this fact.
If your tenants become jittery with the idea of you selling and a new unknown Landlord, why not let them leave without giving their full notice. At least this way you will have vacant possession.
Until next week
If you want to learn about the Tamworth Property Market , one source for information is the Tamworth Property Blog authored by yours truly at https://www.tamworthpropertyblog.co.uk