Sell House with Tenants in Rotherham
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Sell a Tenanted Property in Rotherham
It’s not uncommon for property investors to need to sell a property while tenants are in situ. But there are many reasons why this can be a challenge, from having a limited pool of potential buyers to problem tenants blocking viewings. It can put landlords in a precarious financial situation and cause untold stress if they need to exit but have no way out.
Fortunately, We Buy Any Home has the solution. As the UK’s leading cash house buyer, we have a wealth of experience in purchasing buy-to-let properties, both with and without tenants. We can guarantee you a quick sale in Rotherham in a timeframe that suits you.
Get a free cash offer for your house in Rotherham
How it works
Selling a tenanted property in Rotherham has never been easier. Here’s how our process works:
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Request a free cash offer
Simply fill in our enquiry form with some basic details about your property. You can also call us at 0800 774 0004 to speed up the process.
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Meet the team
One of our experienced team members will contact you within 24 hours with a free cash offer. At this stage, you can ask us any questions and tell us a bit more about your situation and desired timeframe for a sale.
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Agree to a sale
If you’re happy with our offer, we can get the ball rolling on a quick sale. We will require some paperwork from you and send you a simple contract. If necessary, RICS surveyors will inspect the property to double-check our valuation, and then you’re all set. You will have sold your house to We Buy Any Home.
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Why sell a tenanted property in Rotherham?
In 2023, many media outlets reported a landlord exodus in the UK, as research by estate agent Hamptons revealed that nearly 140,000 rental properties had been sold by private landlords. Buy-to-let still has the potential to be a great investment, but landlords have good reasons for selling up.
Interest rates hit a decade high recently, and many landlords are no longer making enough profit from their buy-to-let investments. Besides interest rates, inflation has caused everything to go up in price. Landlords have found themselves paying higher fees for letting agents and maintenance.
High mortgage rates
Interest rates hit a decade high recently, and many landlords are no longer making enough profit from their buy-to-let investments. Besides interest rates, inflation has caused everything to go up in price. Landlords have found themselves paying higher fees for letting agents and maintenance.
Taxed too highly
The press has given landlords a hard time for years, and many feel they’ve been under attack by the government. Section 24 is certainly evidence of this viewpoint. George Osborne first introduced Section 24 in 2017, and it ended tax relief for landlords. Since being fully implemented in 2021, many landlords have sought to cash in on their investments. With more changes to tax and stamp duty likely on the horizon, it’s easy to see why many landlords have had enough.
Problem tenants
Problem tenants are nothing new, but they can be a nightmare for landlords. We have heard instances of tenants causing damage and refusing to leave, all whilst being protected by the council. If you have a property you just want to get rid of, we can buy it from you, even with problem tenants. Simply fill in our enquiry form to get a free cash offer for your buy-to-let property in Rotherham today.
Regulation
Many new regulations have harmed landlords in recent years, such as the ending of the Wear and Tear Allowance. The Renters (Reform) Bill has been mooted to give tenants more rights and prevent Section 21 (no-fault) evictions. It will make removing problems tenants more costly and drawn-out. Many landlords are frustrated by the constant changes to regulation, so they want out.
Exiting Ownership
We often buy from landlords who are looking to cash in on their properties after years of ownership. They may have one or more houses that simply aren’t attracting interest on the open market. To save themselves time and stress, they sell it to us.
Free cash offer within minutes, any condition, any location.
How to sell a tenanted property in Rotherham
Selling your tenanted property to another landlord is the best option if you want to maximise profit from a sale. Up until the sale is completed, you will still benefit from rental income. Plus, the buyer is likely to pay full market value for your property. Your tenants will be unaffected because the buyer can take over the Assured Shorthold Agreement, so you won’t have to wait for your tenants to move out. The issue is finding a serious buyer, though. For some properties, this is a breeze. But if your property has low rental yields or capital growth potential, it is unlikely to attract another landlord. They may also be put off if you have problem tenants or if the property is in poor condition.
This is the second option for getting full market value for your property, but you will have to honour your Assured Shorthold Agreement before you can sell the property. It’s not always easy to find buyers that are willing to wait to move in. Moreover, if you have problem tenants, they may block viewings of your property, and of course, a regular buyer will not be willing to buy a property without a viewing. There is also the possibility of chain breaks, and you’ll have to pay estate agent fees.
Opting to sell your tenanted property to a cash buyer in Rotherham represents a viable third option, especially if you are looking for a quicker and more straightforward sale process. Cash buyers typically close deals faster than traditional buyers since they don’t have to undergo lengthy mortgage approvals. This can be particularly advantageous if you need to liquidate assets quickly or avoid the complexities of the property chain. While cash buyers may offer slightly below market value to account for the ease and speed of the transaction, you eliminate the need for estate agent fees and bypass many of the typical sale hurdles, such as failed buyer financing. This option also allows flexibility with tenancy agreements, as cash buyers may be more amenable to purchasing properties with sitting tenants
Sell to another landlord
Selling your tenanted property to another landlord is the best option if you want to maximise profit from a sale. Up until the sale is completed, you will still benefit from rental income. Plus, the buyer is likely to pay full market value for your property. Your tenants will be unaffected because the buyer can take over the Assured Shorthold Agreement, so you won’t have to wait for your tenants to move out. The issue is finding a serious buyer, though. For some properties, this is a breeze. But if your property has low rental yields or capital growth potential, it is unlikely to attract another landlord. They may also be put off if you have problem tenants or if the property is in poor condition.
Sell to a regular buyer
This is the second option for getting full market value for your property, but you will have to honour your Assured Shorthold Agreement before you can sell the property. It’s not always easy to find buyers that are willing to wait to move in. Moreover, if you have problem tenants, they may block viewings of your property, and of course, a regular buyer will not be willing to buy a property without a viewing. There is also the possibility of chain breaks, and you’ll have to pay estate agent fees.
Sell to a cash buyer
Opting to sell your tenanted property to a cash buyer in Rotherham represents a viable third option, especially if you are looking for a quicker and more straightforward sale process. Cash buyers typically close deals faster than traditional buyers since they don’t have to undergo lengthy mortgage approvals. This can be particularly advantageous if you need to liquidate assets quickly or avoid the complexities of the property chain. While cash buyers may offer slightly below market value to account for the ease and speed of the transaction, you eliminate the need for estate agent fees and bypass many of the typical sale hurdles, such as failed buyer financing. This option also allows flexibility with tenancy agreements, as cash buyers may be more amenable to purchasing properties with sitting tenants
How We Buy Any Home can help you sell a tenanted property in Rotherham
If you want to offload an investment property for whatever reason, we can guarantee you a fast sale. Our team of trusted experts have bought many tenanted properties in Rotherham, Sheffield, Doncaster and other parts of Yorkshire.
Don’t worry, your Assured Shorthold Tenancy Agreement will not be an obstacle. For one thing, we do not need to view the property to buy it. Our team has the means to conduct an accurate valuation remotely. What’s more, we can take over the contract and keep your tenants in situ after we buy the property.
Even if you have problem tenants, we will buy the property. You do not have to worry about doing repairs or renovations. We will simply buy it as it is. You may be wondering why we’d be willing to do all this, and the short answer is that we are happy to play the long game to sell the property for profit in the future. Naturally, we cannot offer full-market value when buying a tenanted property fast. For this reason, our service is not for everyone. But if you’re a landlord who desires a quick sale in Rotherham, we are a smart choice.
No other selling method can guarantee a sale besides a cash house buyer like us. And we are no ordinary cash house buyer. We’re the largest and most recognisable brand in the UK. We’re a member of the National Association of Property Buyers, and we will beat any offer you receive from another genuine cash house buyer.
If you want to work with the best cash house buyer to sell your house with tenants in Rotherham, do not hesitate to contact us. You can sell your property in as little as 7 days with no hidden fees, but we can complete it in a timeframe that suits you. Get a free cash offer for your buy-to-let property today.
Free cash offer within minutes, any condition, any location.
FAQ’s for Selling Tenanted Property in Rotherham
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Is it hard to sell investment properties in Rotherham?
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What is an Assured Shorthold Tenancy Agreement?
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Is buy-to-let still a good investment strategy in Rotherham?
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Is it better to sell a house with or without tenants?
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How much notice do I have to give a tenant if I want to sell my house in Rotherham?
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How much does it cost to sell a tenanted property in Rotherham?
Investment properties can present several unique challenges when compared to regular properties. Like regular properties, the ease of sale will be influenced by market conditions, location and the condition of the property.
But it can be hard to sell an investment property if you have tenants in situ. You’ll have to find a landlord buyer or regular buyer if you want to sell on the open market, and this won’t be easy or even guarantee a sale. Other landlords may not be interested in your property if it has low rental yields or capital growth potential. Regular buyers may not have the patience to buy a house with tenants. You’ll have a much easier time selling your property to a cash house buyer, though.
Is it hard to sell investment properties in Rotherham?
Investment properties can present several unique challenges when compared to regular properties. Like regular properties, the ease of sale will be influenced by market conditions, location and the condition of the property.
But it can be hard to sell an investment property if you have tenants in situ. You’ll have to find a landlord buyer or regular buyer if you want to sell on the open market, and this won’t be easy or even guarantee a sale. Other landlords may not be interested in your property if it has low rental yields or capital growth potential. Regular buyers may not have the patience to buy a house with tenants. You’ll have a much easier time selling your property to a cash house buyer, though.
What is an Assured Shorthold Tenancy Agreement?
It’s the most common form of tenancy in the UK and grants tenants the right to live in a property. If you sell your tenanted property to We Buy Any Home, we will take over the tenancy agreement.
Is buy-to-let still a good investment strategy in Rotherham?
Although some are saying the buy-to-let bubble has burst, it’s still a reliable way to create lasting wealth. Property investing is a long-term game, but like any investment, there can be ups and downs, so you must be resilient. You will want to buy property in an area with a good balance between rental yields and capital growth potential. Wickerley, situated 3 miles from the centre of Rotherham, has seen good house price growth in recent years. On the other hand, Eastwood has 7.5% rental yields, more than double the UK’s average rental yield.
Is it better to sell a house with or without tenants?
It’s usually easier to sell on the open market without tenants because you are more likely to attract regular buyers. However, there’s no doubt that the easiest way to sell is with a cash house buyer, and you can do this with or without tenants.
How much notice do I have to give a tenant if I want to sell my house in Rotherham?
If you wish to evict your tenant before selling your house, you’ll need to give them 2 months’ notice. But if you sell a cash house buyer, we can simply take over the tenancy agreement without evicting your tenants.
How much does it cost to sell a tenanted property in Rotherham?
When you sell with estate agents, you’ll typically have to pay them 1-3.5% of your sale price. Cash house buyers do not charge a commission, however. The price they offer is the price you will receive.
Free cash offer within minutes, any condition, any location.
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