A lot of landlords when looking to sell their rental property serve the tenant notice to vacate with a view to selling the property after. This is fine if your plan is to extensively renovate the property prior to marketing for sale with a view to selling to first time buyers of the like. But if you plan to sell your rental property with no further works you’ll struggle to appeal to first time buyers and you’ve an empty property that’s not generating you an income in the meantime.
There is a smarter way. Many properties appeal more to landlord buyers and in many cases having a good tenant and well managed tenancy is a bonus not a warning sign. We have landlords registered with us who are actively looking to buy bot tenanted and untenanted properties.
If you own a rental property in a limited company you may be missing a trick. By selling a property individually any buyer will be paying a 5% stamp duty surcharge when buying your property. That means 5% less they can offer you. If you sell the limited company that contains the properties your buyer will only pay 0.5% stamp duty tax on buying the shares. Meaning they can offer you more. If your plan is to sell all your rental properties eventually this is for you.
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Trinity Sales and Lettings are a specialist letting agents and buy to let property consultancy for properties in Wakefield and South Leeds area. Our services include: sale of buy to let property (tenanted and untenanted), property management and lettings services. We have won multiple awards for our excellent customer service skills and are proud to offer a more personal approach to selling or letting your property. Our tight-knit team are experienced in all aspects of residential property including specialist HMO & Block Management services. Located in North Wakefield we are the agent of choice for Outwood, Stanley, Lofthouse, Wrenthorpe and East Ardsley. Our aim is to exceed your expectations and we are more than happy to go the extra mile to ensure your property journey is stress-free. Give us a try, we’re here to help.
