The New Year provides an excellent opportunity to take stock of your current situation, to set goals and adjust accordingly in order to get the best out of the next 12 months. This is true in almost all aspects of life, but for buy to let landlords is a particularly worthwhile practice.
A finely balanced property portfolio is crucial to success as an investor, especially for landlord with a large portfolio which might span many miles. The UK property market, whilst robust, does experience fluctuations, with top investor hotspots prone to change as improvements to infrastructure, job opportunities and population growth all impact where house prices and rents are most likely to rise. The emergence of new buy to let hotspots is just one motive for landlords to redistribute their properties, perhaps selling a central London flat and using the capital to buy in the lucrative north.
As well relocating your portfolio in 2019, you might be thinking about selling a buy to let property in order to make personal financial changes, or even depart the market entirely in favour of a new pursuit or lifestyle change. It is good news for vendors that recent data shows that, in November 2018, more than 102,000 land and property sales were registered in England and Wales, a sign that the market is fluid. Of those sales, the data shows 77,369 were freehold, a 2% decrease year-on-year, and 14,866 were new builds which represents a 13.5% increase on 2017 – a particularly good sign for owners of new builds looking to off-load property.
One of the most challenging factors for any vendor of investment property can be selling with a tenant in situ. Selling a house with tenants is a sensitive manoeuvre, with organising viewings a popular headache, as well as the issues that arise when agreeing a sale with an owner-occupier looking to by a functioning buy to let. This can result in the upheaval of long standing tenants which should be avoided at all costs.
If you are landlord thinking of selling a buy to let property this January why not get in touch with yieldit today? Our expert sales consultants are well versed in the sale of completed, tenanted buy to let properties and can offer valuable advice about your portfolio. Buying and selling with yieldit couldn’t be simpler. We work with investors from around the world who understand that buy to let is a business and don’t want all the fuss that comes with selling a property on the high street.
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