Selling with or without tenants

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    Selling with or without tenants

    I am looking to sell a tenanted property. I would like to know what people think about selling with tenants in-situ. I understand the benefits are that rent can continue to come in whilst selling and also it's a good way of keeping good relations with tenants and avoids them turning nasty and digging in when given their notice. I get the impression that landlords are getting out of renting meaning their might be an excess of supply. Is this true, and is it a result of the pandemic and the fact that lots of students stayed at home last year and demand for rentals went down...temporarily..? Cheers in advance for your help

    #2
    It depends entirely on the circumstances. I would have thought on average having a tenant in place would significantly decrease the price that would be paid for the property (even if selling to landlord) because it would cut the competition and also add in an unknown risk.

    At least outside of London there is a massive shortfall of supply at any cost it seems (i.e. massive increases in rents in decent areas). Some due to longer void periods as landlords just sit it out waiting for risk-free tenants, some due to withdrawal from the market and some due to a desire to move out nasty places (inner cities, some parts of London) previously seen as less nasty. What is clear is that the most financially vulnerable tenants are getting hammered by agenda-based attempts to appear to "help" them.

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      #3
      Thanks for that. What you say makes sense. I get on reasonably well with tenants and they like the place and it would be nice to pass them on, but as I thought it probably isn't a wise choice

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        #4
        Overall, I would suggest vacant possession is preferable as otherwise you restrict yourselves to LLs who should buy with their heads & not their hearts. Generally their offers will be lower - certainly was my experience when I sold a house pre-pandemic.

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          #5
          There are companies who specialise in buying tenanted properties.
          They claim that the reduction in cost is offset by the fees etc that you don't have to pay to estate agents etc.

          I doubt it's as simple as that, but it does seem to allow you to know how much less you'll get in advance - and there's something to be said for a simple life.

          I've never done this, by the way, so I can't possibly recommend it from personal experience.
          When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
          Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

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