Selling a rental with tenant in situ

[Kwackersaki]

Has anyone experience of selling a rental property to one of the “We buy your tenanted property” outfits?

With all the current legislation I’m considering selling ours and wondering if it’s a case of way below market value as per the we buy any house lot?

Our current tenants have been in for 5yrs and we charge around £200 a month less than similar properties in the area. Mainly because they have been good tenants and spent a lot of their own money renovating when they moved in, which was their choice. Therefore I reckon it could be a good buy as there’s scope to charge a lot more.

[OutInTheShed]

Anyone who buys that property tenanted is going to whack the rent up to market rates.
And/or turf out the tenants.

Is there no possibility of the tenants buying the place?

[Kwackersaki]

We will approach them but doubt they would. They’ve rented various properties for the last 15+yrs

[Hawkshaw]

From what I have heard of these "we buy any property" outfits, some of them are best avoided.

There is a market for tenanted property, and you would be better served by selling through a regular estate agent.

[OutInTheShed]

Hawkshaw said:

From what I have heard of these "we buy any property" outfits, some of them are best avoided.

There is a market for tenanted property, and you would be better served by selling through a regular estate agent.

Possibly a more 'business' or commercial estate agent ?


landlords looking around for tenanted property for their portfolio won't be tied to a small search area or looking at everything on Rightmove.
Is the Estates Gazette still a thing?

Find an agent that operates in the sphere and talk to them about what they've sold recently?

[Kwackersaki]

Yes, good shout talking to some local agents.