Selling a house while it is occupied by tenants can be tricky, expensive and time-consuming. Here are a few of the most common questions asked by property owners who need to know how to sell a house with tenants.
When selling a house that is empty, there are not as many details to worry about as when you put an occupied house on the market. If a house has no tenants, it’s easy to add furnishings and you don’t have to worry about as many details to organise viewings. Although it can be done, you can sell a house while it is occupied by tenants, but it’s very important to handle it correctly since you and the tenant both have rights and responsibilities. Here are a few of the most common questions asked by property owners who need to know how to sell a house with tenants.
Is it legal or can I sell a house with tenants?
It is optimal to wait until a tenancy expires before putting the property back on the market. You are not obligated nor required to renew a tenancy once it has expired. In some cases, this is the best option since a tenant can cause difficulties if they are unhappy about the property being sold. They can prolong the sale for a year or more by sabotaging your efforts and generally being difficult. They can make it difficult to do viewings at the house, or leave it in a mess and looking unattractive. It is legal to sell a house while the tenants are still living in the property, it can actually be beneficial to the sale of the house. Usually, when a tenant becomes aware of the sale, they will start looking for another home. You can also help ease the process by lowering their rent for a month or two before house viewings commence. Having someone in the home during showings can be more effective when showing the home than showing an empty home.
Do I have to evict tenants before selling the house?
You may be wondering, do I have to evict tenants before selling my property? This is a common question and in some instances it makes logical sense. However, to answer the question, first take a look at the tenancy agreement and the specific language it uses about giving eviction notices and the what it details when selling a house. The tenancy may state directly how much notice must be given to tenants in the case they need to leave the property. Usually a standard periodic tenancy agreement around 2 months’. However, it is not necessary to remove tenants before selling a rented house. A typical house sale takes 12 weeks which allows plenty of time to give notice. There are some instances where the new owner is willing to continue renting to the tenants that are in place at the time of the sale. It will all depend on the specific situation, but tenants do not have to be evicted before a house is sold.
Do I have to inform tenants I am selling the house?
Property owners can have many reasons for wanting to sell their property. And since it’s their property, they can sell it whenever they want. Many still ask do I have to inform tenants I am selling the house? If you have tenants in a home you are wanting to sell, it is better to get them to cooperate with the process. Tenants have certain rights while living in a rented property and one of them is the right to “quiet enjoyment” free from harassment. You will need their cooperation when you start having viewings at the house or property and keeping tenants informed and agreed on what it happening is extremely important. It’s important to keep the lines of communication open by informing tenants you are selling the house.
Should I inform the tenant in writing; or can I just tell them of my intentions?
Its never recommended to only inform a tenant verbally of your intentions to sell the property they are occupying. Tenants have certain rights and they can complicate the process or even hold it up if they say they were not informed of the sale. It’s essential to inform them formally and in writing. Tenants don’t like surprises especially ones that will have such a huge effect on their lives. If a tenant is surprised, they might not act favorably if an estate agent shows up out-of-the-blue telling them their house is being put on the market. A landlord might consider personally delivering the letter informing the tenant of the sale of the property. This ensures communication is open and allows the tenant to ask questions about the sale and how it effects them or their family.
Can I show the home if it is occupied by tenants?
Yes, its possible to show a property with tenants. Its important to give notice in writing of at least 24hrs – ideally more – to tenants before entering the property. Its extremely important to stick to these rules. By keeping communication open with tenants, you can find work together to find times that work best for them and schedule viewings around them to ensure they are not inconvenienced. This can make the process go more smoothly for all parties concerned and a more supportive tenant. They will be more cooperative if you handle the sale in a considerate and sensitive manner.
Can we buy your tenanted property quickly and for cash?
At K&G Lettings Limited, we have helped many Landlords to sell their tenanted properties, by buying it directly. Don’t spend all of your time evicting tenants, we can maintain your rental income while the sale goes through. When you sell to a cash buyer, we’ll buy your house in any condition. We’ll buy it as is! At K&G Lettings Limited, we’ll make you a no obligations cash offer for your house in order to help you avoid the stress of getting your house ready for the market.
Have a question? Give us a call! We’re always ready to talk. No matter if you have questions about the house selling process, or want to get a quote for your house, we’re more than happy to help! Reach us at 01482 961961, or send us a message on our website!