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Selling a Buy To Let Property in Coventry

Offloading your tenanted house in Coventry doesn’t need to be painful. There are hundreds of new houses being listed on the market every month – and while finding a ‘traditional’ buyer on the open market may be a struggle, using to purchase your property directly can be convenient, inexpensive and fast.

What is Buy-to-Let?

Buy to Let is a type of mortgage that is offered by the vast majority of major lenders in Coventry, including well-respected organisations like Coventry Building Society.

This type of mortgage comes with certain stipulations that the purchaser must follow. Firstly, the house is being purchased so that it can be immediately rented out to someone else – so you are not allowed to live in the house yourself. Furthermore, you will usually only pay back the interest on the loan, which enables you to rent out the house at the same time and therefore make a profit.

Once the Buy to Let term is over for your property in Coventry, you will typically have three choices: pay off the remainder of the mortgage, remortgage the house entirely, or sell it.

Buy to Let is a popular option for property investors keen to make a profit by renting a house out. It enables you to avoid heavy mortgage repayments while simultaneously making a profit. If the house increases in value throughout the period it is owned, then selling the property can add to your profit margin, too.

What the Buy-to-Let market is like in Coventry

The average rent price for a property in Coventry is currently £1,275 per calendar month. If you buy a ‘typical’ house in the city and rent it out, this is the amount you can expect to make. This figure varies not only based on your location within the city, but also depending on the size of your house:

  • A one-bedroom property has an average rent of £688pcm
  • A two-bedroom house is typically £1,096pcm
  • Three-bedroom property in Coventry averages £1,434pcm
  • You will pay around £1,792pcm for a four-bedroom house
  • A five-bedroom property has a mean rent of £2,221pcm

Lots of renters in Coventry are students attending one of the city’s two main universities: the University of Coventry and Warwick University. These two universities combined have over 67,000 students, and a large sum of these people need rented accommodation for at least 9 months of the year.

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A landlord’s rights when selling a house with tenants in Coventry

You have the right to sell your tenanted house in Coventry to whomever you wish. Your renters do not have to be involved with your decision about who the new owner is – and you can also have complete autonomy over the price you accept.

In general, you should keep your renters well-informed throughout the sale process. Although you legally own the property, it is still their home, too, and providing written communication about what is happening (and when) is important.

You are allowed to offer your renters first refusal on the property, before listing it on the market, if you wish.

You should read through your tenancy agreement, and ideally seek legal support, if you have any questions about actions that you specifically can or cannot take. For example, whether you can carry out viewings for the house will often depend on the contract.

Is it better to sell a house with or
without tenants?

It is generally better to sell your property in Coventry (or anywhere else in the country) without tenants still living there.

A sitting renter usually devalues the house by at least 20%, and often more – and unfortunately, potential buyers will take advantage of this fact and significantly reduce their offer for your property.

If you can wait a bit longer before selling your house, it could be financially advantageous.


You may also wish to explore the possibility of serving your tenants with a Section 21 notice, or a Section 8 notice if applicable.

Some landlords also offer their renters a cash incentive to move out, although they are not required to accept this.

Get in touch with today if you want to sell your Coventry tenanted house for a fair, realistic price.

How much does it cost to sell a tenanted property?

Selling your house with tenants in-situ will usually reduce its value by at least 20%. In this sense, a tenanted property is ‘more expensive’ because you will receive significantly reduced offers from potential buyers.

While there is often more paperwork involved with selling a tenanted house, this does not necessarily have to mean that it costs you more. If your conveyancer does not charge by the hour, then they may be willing to charge you exactly the same as if the house had been empty.

Alternatively, you can sell your Coventry tenanted property completely free when you use All your legal fees will be covered by us, and you won’t pay a commission on the sale, either – meaning that 100% of the final sale price goes directly to you.

Get in touch today for a free, no-obligation valuation on your Coventry house.

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Frequently Asked Questions About Selling A Tenanted Property in Coventry

Is it legal to sell with tenants in situ in Coventry?

Yes, you can sell your Coventry house with tenants still living there. You should make sure to respect their rights at all times, however.

Is it difficult to sell a property with tenants?

It is more challenging to find a buyer for a tenanted property in Coventry, compared with a house that does not still have people living there.

Can you evict a tenant because you want to sell the property in Coventry?

No. You need a legitimate reason to evict your tenant – both in Coventry, and anywhere else in England – and simply wanting to sell the house does not fall under this category.

How much notice do I have to give a tenant if I want to sell my Coventry house?

It is generally recommended that you give your tenant in Coventry (or anywhere else in the country) 60 days’ notice before selling your property. Your tenancy agreement may outline specifics about how much notice you need to provide.

Can my tenant refuse viewings to my Coventry home?

Your tenancy agreement will usually outline what your renter can or cannot do, while the selling process is taking place. They may be able to refuse viewings of your Coventry house, depending on the details of your contract.

Who buys houses with sitting tenants in Coventry?

Property investors often consider buying tenanted properties, because it means they can purchase the property at a reduced price. If the tenancy agreement is not too restrictive, the renters may move out within the next few years, and this would enable the buyer to make a significant profit by selling it untenanted.

What happens if you sell a property with a tenant in situ in Coventry?

The value of the property in Coventry, or anywhere else in the country, will be greatly reduced when it is tenanted. You will also need to respect the rights of your renters at all times.

Why might/who might want to sell a tenanted property in Coventry?

If you are in immediate needs of funds or are relocating and therefore cannot take on the responsibility of being a landlord in Coventry any longer, then selling your house with tenants in-situ may be the online option.

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