A Landlord’s Guide to Selling a Rental Property 

Over the last 12 months, it’s been reported that many landlords have decided enough is enough and are exiting the buy-to-let game in their droves. And whilst these headlines may or may not be accurate, one thing is for sure, selling a buy-to-let property is very different to selling a residential property.

So, if you’re a landlord considering selling a rental property, what do you need to know?

In this quick read, we look at some important factors you should be aware of – from the property’s condition to the tax implications of selling.

Vacant or tenanted? 

The selling process is more complicated if the property is tenanted. If the tenant is within contract, they can stay put until their agreement expires. Additionally, you must give your tenant 24 hours’ written notice before a viewing, and they can refuse entry if it doesn’t suit them.

Get a trusted agent 

A good agent can provide invaluable insight into who the property might appeal to, whether you should sell to another landlord or a residential buyer, and what the property is worth.

Understand tax

Ensure you know the full tax implications before you decide to sell. You may be liable for capital gains tax if the property is in your name. There will be other tax considerations if you bought it under a limited company.

Looking to sell part or all of your rental portfolio? Contact us today.