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How best to sell houses with tenants?

I have a four bedroom tenanted house in Manchester. The mortgage expires in one year so I must sell. The tenant is very reliable and pays rent monthly without any problems, and I do not want her to move to get vacant possession - so what should I do?

Asked on Feb 24 2016, Selling in Manchester | Report content

Answers (2)

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  • Good question! You need to look at their contract... how much notice do you need to give them? When does their contract expire? Is she a long term tenant? Unfortunately, you need to tell her that you are intending to sell the property closer to the time so you can find an estate agent and get them to value the property. Some tenants are nice about having to sell a property, others may try to put viewers off - be warned! A property can take a long while to sell, so take that into consideration if you do not want it empty. You also have the option, if she moves out, to have a short term let in there or put it on Air B&B if you're in a desirable area!

    Answered on Feb 26 2016, Report content
  • If the tenancy permits you can simply sell with the tenant still in the property. It then means that you will be selling your property onto a landlord as the buyer will be inheriting a tenant or will be left with the responsibility of getting them to move out. Inheriting a tenant will appeal to some and be a put-off for others. If you are looking to sell to the wider buying market e.g. first time buyers, families, couples then you would need to get the tenant to move out. Better to decide how you want to go about the sale and get things in order as soon as so you have peace of mind.

    Answered on Apr 21 2016, Report content

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