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What obstacles are there for the vendor in renting whilst selling at the same time?

What is the most fair but effective way to achieve a sale whilst having to rent to cover mortgage costs? What rights do tenants have in these circumstances? Can viewings be arranged by vendor whilst tenants have a 6 month tenancy?

Asked on Aug 20 2011, Selling in Leeds | Report content

Answers (4)

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  • It is difficult as the tenants do have the right to refuse viewings on the property, also unless the buyer was looking to purchase the property and continue letting it to your tenants then they would be strongly advised not to exchange contracts until your tenants had vacated. Have you tried approaching large letting agents in the area to see if they have any existing landlords looking to expand their portfolios and purchase you flat? This would be a win - win all road, you sell and your tenants get to stay. Best of luck.

    Answered on Aug 22 2011, Report content
  • Well the most obvious is if the purchaser wants a quick completion and then there is a tenant in the property for 6 months.

    Answered on Aug 22 2011, Report content
  • In situations like this it's always an idea to have a good relationship with your tenant and 'difficult' tenants will certainly hamper a sale, not be tidy, put buyers off etc... A bottle of wine and an honest landlord could go far in this case!

    Answered on Aug 27 2011, Report content
  • The most difficult aspect is not the legal side of selling the property whilst tenanted. Its the emotional side for the tenant who can help make your property very unattractive if they do not want to leave. Unaccompanied viewings are a BIG NO!. I have known tenants put buyers off not only by leaving the property in a mess but by the conversations they have with the potential buyer.

    Answered on Jan 12 2013, Report content

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