Advice on selling a tenanted property?

by Readers Question

11:17 AM, 11th March 2015
About 4 years ago

Advice on selling a tenanted property?

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Advice on selling a tenanted property?

I am looking to put my property on the sales market and wish to give written notice to my tenant that:-Notice to tenant of Estate Agent visiting to take photos

1) I wish to have an Estate Agent attend and take photos of the inside of the property.

2) Give notice that once the property has been sold they would be required to vacate the premises.

Is there any advice as to which Acts I have to insert into any legal paperwork.

Thanks

Simon



Comments

Mark Alexander

11:33 AM, 11th March 2015
About 4 years ago

Hi Simon

Whilst you are going to need to serve papers I don't recommend that to be your first approach to your tenants.

Start off with a telephone call to them with a view to arranging a face to face meeting over a cuppa. Get them on your side by being the nice guy because you may well need their co-operation. For example, they are quite within their rights to refuse entry to their home, which means that your agent will not be able to take pictures if they refuse entry. This is regardless of any legal notices that you serve, and if you do go into the property against their express instructions not to do so you could face criminal prosecution for trespass or worse.

In terms of serving notice you will need to issue a section 21 notice. This is notice that you wish the end the tenancy in two months time. It does not compel you to do so, neither does it compel your tenant to move out in two months time. You need to explain this to your tenant. If your tenant decides to stay put after the two month notice period then you will need to obtain a Court order to gain possession. This is why it is so important to be on the best possible terms with your tenant. Given the relatively low cost of making sure the notice is correctly served I strongly recommend that you obtain professional advice - see >>> http://evicting-tenants.net/

There may be another option though. Have you considered selling the property tenanted? With the changes coming up in terms of pension liberation there are likely to be thousands of new investors flooding into the market looking to buy rental properties that are already tenanted. In a few weeks time we hope to launch a specialist property portal for exactly this purpose - please see >>> http://www.property118.com/buying-selling-tenanted-property/
.

Roy B

13:06 PM, 11th March 2015
About 4 years ago

I agree with Mark. Discus it with your tenant and get preparetory work completed. Considering the pension changes it may well pay to sell tenanted. Either way get the tenant on board.

Carol Thomas

13:49 PM, 11th March 2015
About 4 years ago

Reply to the comment left by "Mark Alexander" at "11/03/2015 - 11:33":

Hi Mark. Once again you have hit the nail on the head! I am currently trying to sell a tenanted property and I'm finding it difficult to place within the accepted estate agency format. I don't want the tenants to know in case they leave etc etc and your new property portal seems ideal. You always seem to be ahead of the crowd when it comes to helping out landlords and you seem to be the only one who is "on our side". I am really looking forward to using the new portal, I could well be the first to do so! Congratulations on setting up yet another valuable resource for us all.

Caroline Read

14:07 PM, 11th March 2015
About 4 years ago

Reply to the comment left by "Mark Alexander" at "11/03/2015 - 11:33":

I love buying property with tenants, feel free to send your property information my way.
Caroline 🙂 🙂

Mark Alexander

14:21 PM, 11th March 2015
About 4 years ago

Reply to the comment left by "Caroline Read" at "11/03/2015 - 14:07":

Maybe CaZ will be our first seller and you will be our first buyer 🙂

If you are interested in the property that CaZ has for sale our systems will make the introduction as soon as they are online.
.

Carol Thomas

14:43 PM, 11th March 2015
About 4 years ago

Reply to the comment left by "Caroline Read" at "11/03/2015 - 14:07":

Hi, I will be happy to deal with you. However, I think we should wait for Mark's new portal to open. I'm really looking forward to seeing how this works. Thanks for your interest and Mark - hurry up please,lol

Caroline Read

17:10 PM, 11th March 2015
About 4 years ago

Reply to the comment left by "CaZ " at "11/03/2015 - 14:43":

Yes...come on Mark..;)
Hope we catch up soon CaZ..:)

Elaine Hassall

17:58 PM, 11th March 2015
About 4 years ago

Hi Mark, we're looking to sell a tenanted flat, just waiting to see what April brings so I look forward to seeing how this new portal is going to work - keep up the good work

Carol Thomas

18:25 PM, 11th March 2015
About 4 years ago

Reply to the comment left by "Caroline Read" at "11/03/2015 - 17:10":

I'm pretty sure that Mark will make sure we do,lol. Where are you? I'm in Plymouth

Caroline Read

19:56 PM, 11th March 2015
About 4 years ago

Reply to the comment left by "CaZ " at "11/03/2015 - 18:25":

Hi CaZ,
I'm in Bournemouth...Mark, we are making this easier for you..:)

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