In these current times, there are a few challenges landlords may face when trying to sell their properties. Trying to sell a property while dealing with difficult tenants can be top of the list, but it doesn’t have to be. It’s time to bring in the professionals to take those worries off your hands.
Helping landlords gain access to their tenanted properties to sell for the best price
The key to selling a property for its best price is gaining access for video tours, photos and viewings. This is not easy for many landlords, especially when their letting agents may seem unmotivated, give up at first base or don’t try to get the tenants to help. The key to gaining access is communication and negotiation with the tenant. We know first-hand the challenges and how to reach solutions.
What if my tenants are a problem?
Recently a landlord contacted us wanting to sell his small property portfolio in London, and added to that they were HMO properties with multiple tenants. The first challenge was the tenants refusing access for both photos and viewings. The problem was simple: they were worried that once the sale went through, they’d have to vacate. They were also worried about COVID-19 and the hassle of viewings. So, our challenge is to get the tenants on side and get the highest quality photos and video tours we can with the tenants cooperation.
We have amazing staff in our team who understand tenants. We also have thousands of landlords who want to buy tenanted properties.
Our staff persevered to build relationship and confidence with the tenants. We first paid them to allow our agent to get the best photos and video we could, and we reassured them that our priority is to sell to one of our landlords to keep them on as a tenant. This is exactly what we did. Through our online video tours and auction platform we were able to sell one of the HMO’s to another landlord who kept the tenants within just a few weeks. On one of the other properties the highest bid was from a buyer who needed vacant possession but we were able to pay the existing tenant £5,000 from our fee to leave voluntarily and sign a Deed of Surrender.
The buyer, tenant and seller were all happy with our win-win solution.
In our business, the majority of properties sold end up going to investors wanting to keep the tenants on. If there’s a tenant that passionately wants to stay, no problem, we’ve got thousands of buyers who are happy to buy, so we can reassure tenants that by letting us gain access, they won’t have to pack up and leave. For those properties that are being sold to owner-occupied buyers, we also have the win-win solution: to help them with both the rent and the deposit to find an alternative rental property.
We go the extra mile to get tenanted properties sold, solve all problems, and to get the best prices and complete quickly. We’re there for landlords, sellers and tenants at every step, all the way through the process.