Selling a tenanted property – steps to take

When you’re the owner of a house or flat that has happy tenants who pay their rent on time, you might think it would be a bad time to sell – but this is not always the case.

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Selling a tenanted property: three frequently asked questions

At LDN Properties, we’ve worked with many homeowners to buy their tenanted houses and flats without incurring any estate agent fees. We understand that you might have questions about many aspects of selling your property, and that’s why we’re providing the following frequently asked questions, along with our answers to help explain the process of us buying your home.

✅ Does having tenants harm or help the sale price of my home?

It can cause the sale price of your home to be lower, however in some cases, it might even help to increase the value. If a buyer knows there is a current tenant with a lease and rent that they’ll take over, this can take the uncertainty out of a purchase.

✅ Should I wait for my tenants to move out before selling?

You don’t have to, and as described above it can sometimes help your sale prospects by having tenants in the property. But if you want to wait until the home is empty, this gives you the chance to make upgrades that might further boost the value of the property.

✅ What happens if my tenants refuse to leave?

This is rare, but it can happen, so if your tenants refuse to leave by the legally agreed upon move-out date then you will have to start eviction procedures. Consult with a solicitor before launching this process, as it should be a last resort.

✅ Do I need to fix any physical problems with my tenanted home before selling?

This will depend on several factors, including whether you are trying to sell with tenants. If so, and the rental agreement specifies you must immediately fix physical problems with the home, you’ll be legally obliged to do so. If the tenants have left and the home is vacant, you should only invest in fixing the problem before selling if you’ve got the time and money to do so.

✅ Will I be expected to pay commission when selling my tenanted home?

Possibly, depending entirely on the approach you use for selling. If you opt for using an auctioneer or an estate agent then you can expect to pay commission, which will be deducted from the sale proceeds and therefore lower your profit. But if you use a quick home buyer like LDN Properties, you will pay zero fees.

✅ What’s considered to be the speediest way to sell a property that has tenants?

Generally, using a quick home buyer such as LDN Properties is typically the fastest way to sell your home. These companies have the funds available to buy your property immediately, so the entire process usually takes just a handful of weeks. Selling by auction will often take at least a couple of months, and it might take a full year to sell using an estate agent.

✅ How do I know that a specific quick home buyer is a reputable company?

You can find out whether a fast property buyer is trustworthy by asking whether they belong to The Property Ombudsman (TPO), which is an organisation that publishes rules to protect owners against fraud in the quick buying sector. You should be wary of trusting a speedy home buyer that either refuses to become a member of TPO, or that cannot prove its membership status.

Sell tenanted flat

It’s possible to sell your tenanted property when you call LDN Properties

Even if you have tenants in your property, you might still be able to sell it quickly and for a competitive no-fee cash offer by calling the friendly team of experts.
Pick up the phone and call 020 7183 3022 to speak with us about a no-cost, no-obligation quote for selling your tenanted house, or click on the "Request Offer" button below.

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"Successfully sold two properties direct to LDN Properties in the last two years. Genuine and trustworthy people and the dealings were straightforward."Thomas from London

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