Evicting vulnerable tenant in hospital – Landlord Action response9:55 AM, 3rd July 2019
About 2 weeks ago 69
We all sell properties from time to time, just as we buy, but as Landlords we are usually buying a house and selling a business, and there are few agents that seem to recognise that difference.
I’d be really interested to open up some discussion on how to get the best value out of the sale of, say a 6 bed HMO, grossing £31000 rent pa (6 x 100 x 52) with say £27000 net income. If the local value of a similar house is £225000, I would contend that £270k is nearer the value or even £310k. Many agents would be happy to get £230 and claim that as a premium!
Or are there specialist agents who know and understand the values and are able to get a premium for the business being sold on? I totally appreciate that market dynamics are fickle and change with the wind, but there must be an underlying principle that should make sense to us all.
No market can sustain buying BMV and selling AMV perpetually, but I’d welcome your thoughts on the subject.
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