Selling rented property

[notsogoldenoldie]

I have a property which I let out and which I will need to sell for personal reasons (my relationship has broken down). The tenant is a single parent with a little ds, settled in a local school and with friends in the area.

I'm wondering whether to try to sell to another landlord with the tenant in situ. Is this a good idea?

[APlaceOnTheCouch]

Yes, as long as your tenant is happy about it and your leases and paperwork are correct.

[wowfudge]

Speak to some estate agents and see whether they have investors on their books and the property would be of interest to them.

If you do put it on the market, even if your intention is to try to sell to an investor, be prepared for your tenant to give notice so do speak with her and explain what is going on. You may then have a void period, but it becomes more of a cash flow issue then as presumably you'd be happy to sell to anyone if the tenant chooses to leave.

Might your tenant be interested in buying the house herself?

[Mrsmorton]

Yes, you may have to take a small hit on the price though. Tenants in situ tend to attract lower prices but I hope you sell to a nice LL.

[notsogoldenoldie]

Thanks all. The most sensible option would be for me to move back into the house myself, but I can't afford to do that at the moment, and I don't want to disrupt the tenant either as she'd find it difficult to find something else so convenient (and cheap).