Sell Tenanted Property
Zapperty purchases buy-to-let properties without impacting tenants. Sell your tenanted property fast. Get your free cash offer in 60 minutes or less!
Can I sell a house with tenants for cash?
We are often asked by landlords if they can sell their property to Zapperty if tenants are in-situ. The answer is yes, you can. Our team has the necessary experience and knowledge to ensure the sale transaction goes smoothly for both landlords and tenants, with the legal rights of both parties fully respected and assured.
Benefits of selling a tenanted property for seller, buyer and tenant
It is commonly assumed that selling a property with tenants in-situ is harmful to all parties, but in reality it can be good for everyone. Here’s why:
The seller has the ability to maintain their cash flow from rental payments until the date of the sale. Also, both seller and buyer can eliminate void periods with a tenant in-situ sale.
The new buyer gets a good sitting tenant immediately, and they can start receiving rental income from the first day they acquire the property.
New buyers have no need to go through the time-consuming process of referencing potential tenants and can forgo the costs of preparing the property for rent.
The tenant can remain in the property they have been happily living in without much, if any, disruption.
Why sell a tenanted property for cash?
There are many reasons to sell a tenanted property. Zapperty can help regardless of the situation.
Common reasons to sell:
| Reason | Impact on landlord | Zapperty’s solution |
|---|---|---|
| Section 24 Landlord and Tenant Act | The law now states that landlords cannot deduct mortgage interest and other financial costs from their rental income. This has increased the tax burden, making many lettings unviable. | Zapperty are not buying to become landlords. The tax change does not affect our willingness to buy. |
| Increased regulations | Government changes to tenancy laws and regulations have increased costs for landlords. This has turned once profitable lettings into loss-makers, forcing the landlord to sell the property. | The regulation changes do not affect our willingness to buy. |
| Changing market conditions | Since the pandemic, there has been an increasing trend for tenants to move away from city centre flats to houses with more space and a garden in suburban or rural areas. Many urban landlords have now been left with flats that are difficult to let at a viable price. | Zapperty buys all types of property. This includes flats and houses in cities and towns. |
| Cashing-out property equity | Like many people, landlords often need ready cash to fund their next project or ambition. Selling tenanted properties with locked-in equity is one way of securing the cash landlords need to move on to their next goal. | Zapperty always give a fair price that reflects true market value, this includes the locked-in equity that landlords need. |
How to sell a tenanted property to Zapperty
We make the selling process easy for landlords and painless for tenants:
- Inform your tenants about your intention to sell and ask if they wish to remain
- Contact Zapperty for a free cash offer, informing us of the sitting tenants
- Notify your tenants about Zapperty’s valuation visit
- After the valuation, you’ll receive a formal cash offer. If accepted, we buy the property, transferring the tenancy agreement and deposit to us.
- Upon completion, funds are wired to your account, ending your obligations
- Your tenants remain unaffected by the change of ownership
Selling tenanted property with Zapperty – the benefits to Landlords
- Zapperty buys properties regardless of condition. If your tenants have vacated and left a mess behind, there’s no need to worry or pay for repairs.d
- We buy houses fast - landlords are not stuck waiting for an estate agent to sell the property.
- No hassle – we do all the work to make the sale go through.
- Legal and above board – we honour existing tenancies and make the sale painless for all.
Don’t just take our word for it
Hear what genuine Zapperty customers have to say about us.
Frequently Asked Questions About Selling a Tenanted Property
What happens if you sell a property with a tenant in situ?
The seller must transfer the tenancy agreement to the new buyer once the sale has been finalised. The terms of the tenancy agreement, including the rental fee, will remain the same until the fixed term has ended. The terms may be altered with the tenant’s consent.
Is it better to sell a house with or without tenants?
It may be less complicated to sell a house without tenants, but Zapperty can still buy your property even if it is rented out and tenants are in-situ.
How much does it cost to sell a tenanted property?
With Zapperty there are no costs to sell a tenanted property.
Can you evict a tenant because you want to sell the property?
There is no need to do this. With a tenancy agreement in place, the tenant has the legal right to remain in the property after it is sold. If the new buyer doesn’t want to rent out the property, they can evict the tenant in situ once they have acquired the property.
How much notice does a landlord have to give a tenant if they want to sell their house?
Most rental agreements have a provision that says how much notice landlords must give tenants that the property is being sold and/or the agreement is coming to an end. This is typically 60 days, but it can be more or less time depending on the terms of the agreement.
Can I Buy My Rental House From My Landlord?
The answer is yes! Read out helpful guide on how to buy a house you are renting from your landlord here.