If you’re a landlord and you haven’t yet heard of us here at National Residential [ www.national-residential.co.uk ], there’s a good chance you’ll want to. Established in 2006, we pride ourselves with our “any problem we can fix” formula, led by myself, founder and industry expert, David Coughlin.
Helping Landlords Sell
There are a few challenges landlords may face when trying to sell their properties. Difficult tenants can be top of the list, but they don’t have to be. Being a private landlord myself, with 100 properties in my portfolio, I first-hand understand the issues and challenges facing landlords today. It’s about overcoming solutions fast, but also in a way that means both the landlord and the tenant are happy. With National Residential, we’ve found the sweet spot when it comes to helping landlords sell, so we’ve become experts in taking away the stress. We know how to solve every barrier that landlords come up against, even for example when they can’t gain access to their own properties.
Can you sell my property if my tenants are a problem?
A landlord recently contacted us wanting to sell his small property portfolio in London, and added to that they were HMO properties with multiple tenants. The first challenge for one property was the tenants refusing access for both photos and viewings. They were worried that once the sale went through, they’d have to vacate. They were also worried about both COVID-19 and the hassle of viewings. So, our goal was to get the tenants on side and get the highest quality photos and video tours we could safely, and with the tenants cooperation.
Our staff persevered to build a great relationship and confidence with the tenants. We paid them to allow our agent to socially-distanced get the best photos and video possible, and we reassured them that any viewings would be safe and with one of our landlords who would keep them on as a tenant. This is exactly what we did.
For the second property, through our online video tours and auction platform, we were able to sell the HMO to another landlord, who kept the tenants, in just a few weeks.
On one of the other properties, the highest bid was from a buyer who needed vacant possession but that wasn’t a problem: we were able to pay the existing tenant £5,000 from our fee to leave voluntarily, and sign a Deed of Surrender. The buyer, tenant and seller were all happy with our win-win solution. Be it negotiating with your tenants, sorting out repairs, and even helping tenants relocate, we have the best team to do it all and have the track record to prove it.
Another of our landlords based in London gave us a small portfolio of tenanted properties in the North-East to sell. We overcame every problem and went that extra mile to get her the best prices with a fast completion.
All these properties sold within 28 days and completed in 2 – 3 months.
In our business, the majority of properties sold end up going to investors wanting to keep the tenants on. If there’s a tenant that passionately wants to stay, no problem, we’ve got thousands of buyers who are happy to buy, so we can reassure tenants that by letting us gain access, they won’t have to pack up and leave. For those properties that are being sold to owner-occupied buyers, we also have the win-win solution: we help them with both the rent and the deposit to find an alternative rental property.
We go the extra mile to get tenanted properties sold, solve all problems, and to get the best prices and complete quickly. We’re there for landlords, sellers and tenants at every step, all the way through the process.