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Sell A Tenanted Property in Manchester
For many landlords in Manchester, selling a tenanted property can be complicated, time-consuming, and sometimes even quite frustrating.
When selling a property with tenants, their rights must be acknowledged, so it’s important that you know where you stand and what you can and can’t do.
At We Buy Any Home, we have purchased various tenanted homes all over Manchester and understand exactly what needs to be done, meaning the sale of your home is in safe and experienced hands.
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We understand how difficult it can be to sell with tenants in Manchester, so we decided to simplify the process. We follow a simple process when buying a tenanted property from a customer.
Free cash offer within minutes, no legal fees, any location.
Get in touch with us
The first step is to complete the enquiry form on our website and provide all the necessary information
Receive an offer from us
Upon receiving your enquiry, one of our representatives will give you a call back. During the call, you’ll receive a free, no-obligation cash offer. You will then need to consider the offer and make a decision if you want to proceed.
Sale agreed
If you wish to proceed, you’ll have to complete and return some basic paperwork. Upon receiving the paperwork, we will instruct our solicitors. We will also notify our property surveyor and valuer team to carry out a valuation of your property. Following the legal check and valuation report of your rental property, a final price will be provided. All you need to do now is decide when you want to sell the property to us. On the date of the sale, the sale will be completed, and you will receive your funds.
Free cash offer within minutes, no legal fees, any location.
Selling a Buy-to-Let Property
Even though selling a buy-to-let property is more difficult than selling a vacant one, there are still many reasons why landlords consider cashing in on their investment properties.
Recent data shows that around 25% of landlords throughout Manchester and the UK are looking to sell at least one of their rental properties this year. The reasons for the sell-off in buy-to-let properties are many, but are mainly due to the following:
- Section 24 Landlord & Tenant Act
- Impact of Covid-19
- Issues With ESW1
- Releasing Locked
- Increased Regulations
What Is Buy to Let
Buy to let refers to the activity of purchasing a property in Manchester with the specific purpose of renting it out.
Many investors and landlords purchase such properties not only because they can profit from renting them out each month but also because when the property is eventually sold, it will be worth more than it was bought for.
Free cash offer within minutes, no legal fees, any location.
Selling A Tenanted Property in Manchester FAQ's
What happens if you sell a property with a tenant in situ?
Is it better to sell a house with or without tenants?
Why are houses sold with tenants?
Is it easier to sell a house with tenants?
How much does it cost to sell a tenanted property?
Can I sell my tenanted property?
How much notice do I have to give a tenant if I want to sell my house?
If you sell a property with a tenant in situ, then the tenancy agreement can be taken over by the new landlord. The tenant will continue living at the property until the agreement expires. The new owner can then decide to renew or evict the tenant.
What happens if you sell a property with a tenant in situ?
If you sell a property with a tenant in situ, then the tenancy agreement can be taken over by the new landlord. The tenant will continue living at the property until the agreement expires. The new owner can then decide to renew or evict the tenant.
Is it better to sell a house with or without tenants?
Selling a house without tenants is easier when approaching regular buyers who want to move into the property. However, if you have access to other landlords or investors, they may be open to taking on the property as an investment opportunity.
Why are houses sold with tenants?
When properties are sold with tenants, the new landlord is able to begin receiving rental income, which provides a means of investment. Sometimes, due to existing tenancy agreements, properties have to be sold with the tenant still living there.
Is it easier to sell a house with tenants?
It is easier to sell a house with tenants if you have access to investors or landlords willing to take over a tenancy agreement. If not, at We Buy Any Home, we can purchase properties in as little as seven days with minimal disruption.
How much does it cost to sell a tenanted property?
If you choose to sell with a cash house buyer like us at We Buy Any Home, there are no upfront fees or hidden costs. It’s completely free, and you can receive rental income right up till the selling day. However, with the traditional route, there may be a loss of rental income, solicitor fees, estate agents and event refurbishment costs to consider.
Can I sell my tenanted property?
Yes, you can, get in touch through our enquiry form, and we’ll contact you within 24 hours with a cash offer.
How much notice do I have to give a tenant if I want to sell my house?
If your tenant has lived in the property for more than six months and you are evicting them for the reason of selling, you must give them 84 days’ notice. If it has been less than six months, it will be 28 days.
Get a free cash offer for your home in Manchester
Selling a house or a property with tenants in it
Many landlords all over Manchester have recently sold their rental homes or properties to us while having tenants in them.
It is not illegal, and when working with us, the process is smooth for all parties involved, including the tenants, which can continue residing in the property after the sale is concluded.
A closer look at Assured Shorthold Tenancy Agreements
An Assured Shorthold Tenancy Agreement (ASTA) is a contractual agreement between the tenant and the landlord, allowing the tenant to reside in the rental property for a pre-defined minimum term without the tenant fearing eviction.
Generally speaking, an ASTA shouldn’t be a reason for impeding a sale, but it can certainly impact the typical selling process.
A few examples of complications that can occur include property viewings breaching the tenant’s right to ‘Quiet Enjoyment’, the ability to refurbish the property and make it more desirable when tenants are residing it in, or having to terminate the tenancy agreement due to the buyer not being a landlord.
At We Buy Any Home, we know how much of a headache it can be to sell a house with tenants in Manchester, so we made it simple.
No matter the tenancy situation or the type/condition of your property, if you want to sell it, we can give you a free, no-obligation cash offer for your property in minutes.
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