Selling Your Rental Property In Nottingham

After years of increased bureaucracy, changes to taxation, and local authority licensing, it is perhaps not a surprise that some landlords are taking stock and thinking about investing in something other than residential property.

As specialists in the management & sale of rental property, Granger & Oaks are well placed to advise you if you’re thinking of selling. “when our clients look to exit the market, we often help them sell and we’ve had considerable success in selling a significant proportion of rented property on to other landlords that are looking to buy-in, rather than sell-up. The rules and regulations around renting are obviously much tougher now, but there are still landlords looking to buy rental property to add to their pension as the returns they are getting on their savings is currently so poor” comments Jonathan Detheridge, MD of Nottingham lettings specialist Granger & Oaks.  

There is as well, a resurgence in first time buyer activity with long-term renters now looking to get a foot on the property ladder, and this has seen starter home prices rise at a higher rate than other property types.  

Landlords in Nottingham contemplating selling should be thinking ahead and talking to their Letting Agent to ascertain what they recommend as the best route to market. You may want to hedge your bets for instance, and come to market whilst you have rent coming in. Having a property sat empty waiting for a buyer, can be a very expensive experience with mortgage payments to meet and council tax remining due. By contrast, selling a property with a sitting tenant often means that you have rental income right up until the day of completion and a motivated buyer that is welcome of the property being let from day one.

Of course, not all properties are perfect rental stock and you may well just be an accidental landlord now wanting to sell-up? If you are, our advice would be to plan ahead. If possible, work with your tenants and choose a date that suits you both for the tenancy to end. Think about presentation – the best presented homes usually achieve the best selling price, so think about any work that you may want to do before selling. Is the garden presented well? Are there some jobs that the tenants need to do before they vacate? Gardens hurriedly hacked back on the day a tenancy ends don’t tend to ooze kerb appeal. If you’d like our advice, just drop us a line. Presenting a property well has never been more important, and we’d love to help you maximise your properties potential.

Call us today for a no obligation appraisal of your property. We have clients on our books actively seeking new investments, and we’ll be more than pleased to advise you if this is your best route to market.