Can you sell a property with a sitting tenant?

You can sell your rental property with sitting tenants. You should always inform sitting tenants of your intention to sell before putting your property on the market and explain your reasons for doing so.

What is a protected sitting tenant?

Protected tenants Upon the death of a sitting tenant, tenancy can pass to another family member. These tenancies were created in the United Kingdom before 15 January 1989 under the Rent Act of 1977. Sitting tenants are also referred to as protected tenants, regulated tenants and rent act tenants.

Do sitting tenants still exist?

In short, a sitting tenant is someone who is renting a property that the owner (their landlord) has decided to sell. If they have an ongoing agreement or contract with their landlord (the seller), the sitting tenant will retain the right to continue living in the property once the sale has been made.

Do sitting tenants have the right to buy?

Can a sitting tenant buy a property? The only time tenants do have the right to buy, is if the property is owned by the local authority. As the landlord you can offer your tenant first refusal if you want to sell but this is not something you must do by law.

Can a buyer buy a property with sitting tenants?

The main issue buyers come up against when purchasing a property with tenants in situ is financing. Many lenders will be unwilling to lend on a property with sitting tenants, so a cash purchase may be your only option.

What does it mean to be a sitting tenant?

In short, a sitting tenant is someone who is renting a property that the owner (their landlord) has decided to sell. If they have an ongoing agreement or contract with their landlord (the seller), the sitting tenant will retain the right to continue living in the property once the sale has been made.

Can you buy a property with a tenant in situ?

If you are looking to buy a property with tenants in situ, you can expect to pay considerably less for the house or flat in question. This can present a great opportunity for those who are willing and able to wait out the tenancy, as the property will jump back to market value once the current sitting tenant is no longer in situ.

How many houses in UK have sitting tenants?

When Countrywide Residential Lettings ran the numbers back in 2015, it found that more than one in ten rental properties bought by landlords came with a sitting tenant, a fourfold increase since 2008.