I want to sell my house but have a tenant, what is the best process….
Firstly, you must serve formal notice. Tenants are only contractually obliged to allow access for viewings in the last 2 months of any tenancy.
You then have two options, both with their pros and cons.
If you decide to market with the tenant still in situ, then you have the benefit of rent coming in, all utilities and Council Tax being covered by the tenant and the additional security of an occupied property.
The downside is that you will have no control over access as notice and tenant agreement must always be obtained. You will also not have any control over how the property is presented. Always remember that there is absolutely no benefit to the tenant to display the property to look its best.
If you decide to wait to market until you have vacant possession, then you benefit from certainty that you will have vacant possession ready for exchange. The current shortage of available properties means that tenants are often struggling to find alternative properties and often stay on past the end of the notice period, which could easily de-rail an ongoing sale.
The other benefits are unrestricted access for viewings and complete control over how the property is presented at the time of the viewings. The only negatives being that you would need to cover all the bills until completion.
The key decider is the existing tenant and how good they are in terms of flexibility and how well they look after the property. However, once a tenant knows a property is for sale they feel unsettled and often leave well before the end of the notice period.
For more advice, talk to the experts, speak to Aldreds…..