The 3 most important things landlords should do when selling rental properties
The current economic situation has landlords across the UK making the decision to sell their whole property portfolios, or at the very least, downsize. With property market risks, rising interest rates, Section 24 legislations and refurb costs overtaking rent, it seems that the golden era of buy-to-lets is well and truly over.
But with many of us having medium to large-size portfolios full of tenants, what’s the best way to go about this? How do you deal with so many tenants when considering a sale? And what’s the best solution to selling your tenanted buy-to-let portfolio in one go for those of us who want to “stop the financial rot” as fast as possible?
Here at Landlord Sales Agency, we’ve compiled 3 things that all landlords should do to make sure that your buy-to-lets are sold as fast, for the best price, with no issues:
1. Don’t evict your tenants
Contrary to popular belief, the best way to sell a buy-to-let doesn’t require you to evict your tenants. And with eviction notices allowing even longer wait times for tenants to remain in situ, there’s a good reason you’ll want to sell with them still in the property. At Landlord Sales Agency, we have a database of over 30,000 private buyers and investors who are happy to take on whole portfolios with tenants still in the property. This vastly reduces selling time – from what could be a year or more to evict, to just one week, with the new owners happy to take on all your tenants.
2. Pick the right time to sell
It might be tempting to hold on to your rental properties to see if the landlord sector takes a U-turn and helps alleviate our financial burdens, but clinging on to a golden era of the property rental market will inevitably end up costing you more. Experts and associations alike are all in agreement that now is the best time to sell your buy-to-lets, before the market drops. The faster you get started, the faster the properties can be on the market and sold. Unlike estate agents or traditional auctions, at Landlord Sales Agency we have buyers ready and waiting to buy from the moment you contact us. We’re so efficient, most of our portfolios sell in just 28 days or less, and for a whopping 85% – 90% of the market value. A huge bang for your buck from a company who’ll take the whole portfolio off your hands in less than a month. Cash in the bank. No issues.
3. Choose a portfolio exit specialist to get the best price for your portfolio
As frustrating as it can be to want to just “get rid” of the ball and chain of your portfolios, taking the time to find the best people to sell might be obvious, but it’s crucial. There are many companies out there who offer help to landlords, but when you’ve been in the industry for a while, you’ll want the best.
At Landlord Sales Agency, we’re a company run by landlords for landlords. We know first-hand exactly what it takes to get the job done, and for the highest possible price.
Put simply, with us, you won’t even have to worry about the 3 most important things you need to do to sell, we’ll take it all off your hands and solve all your issues in one go:
- We have a database of over 30,000 buyers/investors and we send off-market alerts to those buyers to get properties sold quickest
- We also have vast and strong B2B relationships with other companies who specialise in purchasing portfolios and HMO’s/blocks of flats – this minimises the need for viewings. Many buy without searches or surveys
- We run a modern auction to create competition between our investor database and new buyers and investors we source from Rightmove and Zoopla. We run a bidding war to get the best price in an average of just 28 days
- All purchasers pay 1% deposits (and sometimes buyers fees) and are chain-free and sign agreements to complete in 56 days. This is compared to traditional auctions that charge 10% deposits and have 14-28 day completions. The result is the smaller deposit and slightly longer timescale for completion means our auction achieves the same 95% completion rate as traditional auctions but often at much higher prices as it opens up the auction to those purchasing with finance
- Our company’s culture is driven from the top-down to achieve the best price and fastest completion for sellers, along with the problem solving and drive to overcome every obstacle to get properties over the line. Every single issue is solved, even tenant issues, by working with incredible partners to overcome any barriers that stand in the way.
Here at Landlord Sales Agency, we’re experts in selling portfolios, no matter what the property, in a matter of weeks and even days. Be it as a job-lot, or to several of our many eager buyers ready on our books, we’re getting whole portfolios sold faster than anyone else, and for higher prices than anyone else. What’s more, all you need to do is contact us, and our team of experts will do all the rest.
It’s a bold statement, but it’s exactly what we’ve been doing for hundreds of landlords throughout the UK and we’ve got the reviews to prove it. Be it tenant issues, mortgages, access issues, absolutely nothing is standing in our way from getting landlords like you the highest prices in record times.
So contact us today, and let’s get it done. There’s no doubt about it, there’s never been a better time to sell up and cash in your buy-to-let portfolios than right now.
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