Selling my house with tenants in-situ

Jackinbox99

You can certainly do this. Years back I rented a house and the owner did just exactly this. They offered me a reduced rent for several months for the inconvience of having to show prospective buyers around the house. I did all the viewings for the owners (as they lived quite a distance away).

The new buyers intended to rent it out, and following a good recommendation from the old owners, they offered to allow me to stay on. Unfortunately they wanted me to move out for 2 weeks whilst they redecorated the house, and then wanted to charge me a lot higher rent for living in the house. So, in the end I just moved out instead.

moneybunny123

:(:(:(:(:(

Oh no. That is the last thing I wanted. But thanks anyway.

moneybunny123

Jackinbox99 wrote: »

You can certainly do this. Years back I rented a house and the owner did just exactly this. They offered me a reduced rent for several months for the inconvience of having to show prospective buyers around the house. I did all the viewings for the owners (as they lived quite a distance away).

The new buyers intended to rent it out, and following a good recommendation from the old owners, they offered to allow me to stay on. Unfortunately they wanted me to move out for 2 weeks whilst they redecorated the house, and then wanted to charge me a lot higher rent for living in the house. So, in the end I just moved out instead.

Ooh, that gives me a bit hope. It's just a case of finding someone who will want to buy it. It's very frustrating as I think it's a great investment. I know you can get a buy-to-let mortgage for less than she pays in rent - PLUS the buyer has any equity that builds up on the house, and it's always there for them to sell. Can't understand why people wouldn't be jumping all over it to buy it...

N79

mandbaby wrote: »

:(:(:(:(:(

Oh no. That is the last thing I wanted. But thanks anyway.

You may as well wait and see if any of the agents gets back to you and as I said, talk to your Ts. They may be quite understanding and willing to support the sale process, or they may not - I might depend on any inducements that you can offer.

The truth is that as English Ts have almost no security of tenure so there is just not much of a tenanted property market in England and Wales. This is because it is easy to get vacant possession and you get the best price by marketing to the largest number of potential buyers. That means selling on the open market.

It may not be fair to Ts but that is the rental system that parliament decided to create in England and so, while clearly you feel a little guilty, it is the way things work.

moneybunny123

Yes, I suppose so. I'm a woman and so I think my heart comes into things a little more. My husband thinks we should just serve her notice now and get it sold. Our needs come before hers, etc. I guess he's right, but I just feel so bad!

theartfullodger

mandbaby wrote: »

I'm a woman and so I think my heart comes into things a little more.

You never met my 1st wife, did you?

sequence

Awwwwww....... But! Your husband is right - this is business you're not a social worker for the tenant. Evict tenant, sell property, move on!

moneybunny123

theartfullodger wrote: »

You never met my 1st wife, did you?

Like the tinman, was she?

Honestly, I feel sorry for everyone and always see the best in people. Husband says I let people walk all over me. Thing is, if more people were like me the world would be a much nicer place. :beer:

silvercar

Be honest with your tenant; tell them your plans and that they should start looking for their next home. One thing to say you will be flexible with notice and moving out date etc another to keep a property on when you need to sell.

Alybea

Personally, I'd hand my notice to quit as soon as you mention that you might sell.

I'd know it was nothing personal, but I couldn't cope with the faff of estate agents etc wanting to look round.