Over the Last few Months, we have seen a marked increase in the Numbers of Former Rental Properties coming onto the Market. Many of these are empty, as the Tenant has been summarily dismissed as the Landlord’s look to Sell.
Its quite understandably really. The recent upturn in the Market, combined with the government’s apparent War on Small Property Investors, has encouraged many to sell up. As predicted by many the real Losers in this are the Tenants. An already under-supplied Market is being further Squeezed and this is further confirmed by the Recent Report by Countrywide. This illustrated that Tenant can no longer Bargain as the average home now Lets for 99.9% of the asking price.
The thing is that many Tenants do not have to be made homeless. It is quite possible that the Home can be sold with Tenants in situ. Its all about openness, trust and Honesty from Both the Landlord and the Tenant. A Decent Agent can help ‘oil the Machine’ and ensure that everything runs Smoothly
Most Agents want to take the Easy approach. Kick the Tenants out, splash of Paint stick it on Rightmove. Whilst the Market is rising, its easy. But what about the Tenants ? According to our illustrious Chancellor, they should encouraged to buy a home ! Easy Right ?
What is needed is co-ordinated approach from the Agent and Landlord, that includes the Tenant in the Process. In the Past we have sold a few properties with Tenants in Situ to Investors who are happy to keep them on. After all no void Period. No expensive makeover. No Re-let Fees. Everyone’s Happy including the Tenant.