Want to know the best way to sell a rental property fast?

You’ve decided to sell. Of course you want a quick, smooth sale that gets you the best returns.

Putting your property on Rightmove isn’t the way to do that.

Won’t evicting my tenant, and listing my property on the portals, get me the most money?

It’s true that an untenanted property appeals to a wider market. When it’s empty, first-time-buyers will take an interest, as well as investors. When it’s tenanted, it can only appeal to investors. But have you seen the news lately? Evicting tenants is no easy task, unless of course you’ve stayed on top of every bit of procedure and paperwork. If you’re relying on tenants leaving your property, that will slow the process down, a lot.

But let’s assume your tenants are happy to leave. They pack up, you photograph your empty property, and you list it online. And it doesn’t sell. Nobody makes an offer at the price you want. You have no tenants, so no income. Now you’re paying for that property, month-to-month.

What do you think the agent will advise you to do? Chances are, they suggest you reduce the asking price. At this point, what other choice do you have? You’ve bypassed all the other routes to sale.

So let’s back up.

The best way to sell a rental property keeps all options open for as long as possible

Instead of putting all your eggs in the Rightmove basket, follow this process:

Stage 1: Valuation

Work out what your property is worth. Not ‘what you want for it’ or ‘what you need for it’. The market doesn’t care what you’ve spent or what you owe. You need to find out what it’s actually worth today, because a property will always find its true value.

If it’s a tenanted property, work with a property management company, like Homesure, that also handles sales. Our team are experts in the local rental market. We can tell you what your property is worth. If you’re happy with the figure, proceed to the next step.

Stage 2: Landlord-to-landlord sales

At Homesure, we have a database of well over 1,000 active investors. When we’re selling an investment property, we send it to that list of people first. Many rental properties sell within days, after just one email, whether they have tenants in-situ or not.

Our investment team manages the deal from start to finish. We can introduce you to finance professionals, if needed, and we speak your language. This is the smoothest route to sale, and the only one many landlords need.

But what if it doesn’t sell?

Stage 3: Exploring other options

This is when we consider advertising a property on the portals, to widen the audience. Your tenants can stay, so you won’t face a void period, and we’ll keep talking to our landlords about it too.

If it still doesn’t sell, something’s going on. Maybe there are tenant issues, or structural problems, or some serious renovations required. No problem. At this point, consider going to auction.

We’ll advise you to sell at auction when you need a quick sale and there’s an issue with the property. At Homesure, we manage a buy-it-now auction process in-house. Your property will find its market value. That may not be the figure you were hoping for, but it will sell, you’ll pass the problem to someone who’s happy to receive it (at a price that reflects the work they need to put in), and you’ll get your money in 28 days.

Most importantly, don’t put this off

If you need to sell, start the process. You are responsible for the property until you do, and the Renters’ Rights Bill has made the consequences of not living up to those responsibilities a whole lot more serious.

If your property is in Liverpool City Region or Cheshire, Homesure’s investment team can help. Book a call with our director to start the process.