If you are a landlord and you are planning to sell your property, something that you might have to consider is whether you are going to sell it with tenants in it already. If you have someone renting your property at the time that you come to sell it, you then have a choice – you can ask them to leave the property (however you must follow the law on this and ensure that you are giving them sufficient notice) or you can also sell your property with tenants in it.
If you have good tenants that have been there a long time and are happy there, selling the property with tenants in it already can actually be a good idea. This is because this will be attractive to another landlord looking to expand their property portfolio, and having a property that has tenants in it already means that it is already going to be generating an income right from the start.
When you choose to sell your property with tenants in it, you must also be aware of the rights of tenants. As long as the tenants in your property have an assured shorthold tenancy agreement they have the right to stay in the property for a certain amount of time after it has sold, which it will state on the contract. After this period of time, the new landlord can then change the contract.
Another option is that the tenants who are in there might want to buy the property from you themselves. This is often something that takes place, especially if they are happy and settled in the property, and offering your tenants first refusal is a good idea. If they choose not to, then find a good local estate agent like this Stroud estate agents www.tgres.co.uk/stroud-estate-agents/ who will be able to sell the property for you.
Another thing to be aware of is the fact that the tenants need to be informed and agree to viewings in the property taking place, so this is something that you should inform them of and keep them in the loop about to make sure that it is done at a time that is convenient for them and they are aware of it.
