Have you ever had to serve your tenants notice? Did you know that one in every 4 landlords don’t know how to serve their tenants notice legally and what the eviction process is.
Evictions can cause stress and strain on you as the seller. Why go through the strain when all of this can be avoided when choosing to sell your property with tenants in situ.
Welcome to Connect UK’s Auction Academy – Here to answer all your property auction questions.
Selling with your tenants in situ is generally seen as an advantage to both you and your potential buyers.
Sellers – because you can sell without disturbing and uprooting your tenants while receiving a rental income until the day the property is sold.
Buyers – Buy to let landlords and investors would prefer to buy with tenants in place as they receive the rental income from day one of ownership. This is a great way of increasing a property portfolio or even starting one. By buying this type of property you will avoid spending time and money finding new tenants to move in after the purchase has completed.
If you do choose to evict the tenants beforehand and the property is empty during the take on and marketing phase then you, as the seller, would be liable for covering any mortgage payments, utilities and other expenses without the rental income.
Check out our other videos on can I control the selling price of my property and legal packs.
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