Mark Burns | 5th November 2021
One of the most popular questions we're asked here at Pure Investor is 'how can I sell my property with sitting tenants?' Given that there are approximately 4.5 million private rented homes in the UK, it's understandable that landlords will be looking for ways to sell their investment properties, without compromising their rental income during the process.
The majority of landlords we speak to find themselves in a typical scenario, they want to maintain rental income up to the point of completion, however the majority of traditional estate agents will not sell a property with sitting tenants due to the additional challenges during viewings and surveys. Given this scenario, many landlords for the more the traditional, yet costly options such as putting the property into an auction, or utilising the services of a 'fast cash purchase company.' Both of these options can result in significantly lower values being acheived on the property during the sale.
Here at Pure Investor, we offer investors a different route, one which retains the rental income up to the point of completion, and avoids the heavy price reductions traditionally associated with auction houses and cash purchase companies. At the heart of this service is our open and transparent communication with all parties, most importantly the tenants themselves. By working in this way, we're able to remove many of the more traditional obstacles associated with these types of sales, such as restricted viewings.
Key to the success of selling property with tenants in situ is the right marketing. Again, this is where traditional estate agents typically struggle, as their marketing channels typically rely on the major property portals such as Rightmove and Zoopla. The reality is that simply placing the property on the portals will result in a large number of enquiries from people looking to purchase the property to live in themselves. Unfortunately, this will happen regardless of the marketing message accompanying the photography and floorplans. Traditional estate agents know this (often from painful experience), and as such they will avoid marketing these properties with sitting tenants.
Our focus at Pure Investor is to work with our huge database of highly active property investors, the vast majority of whom are actively seeking to purchase rental properties. More importantly, the fact that the property has sitting tenants is actually considered a positive factor, as it will save the new landlord additional costs such as tenant find fees, and void periods during the initial marketing and set up phase. All properties will also benefit from listing on our hugely popular Pure Investor website (www.pureinvestor.co.uk) which is visited by hundreds of buy to let landlords every day.
If you would like to find out more about our services for landlords looking to sell a property with sitting tenants, why not contact us today on Tel: 0161 337 3891 or Email: firstname.lastname@example.org to speak with one of our consultants.