Sold everywhere:

Selling a house with tenants in Sheffield

In an ideal world, you will ‘keep the peace’ with your tenants in Sheffield. Communicating regularly and clearly can keep them on-side and make your life much easier.

In Sheffield, the average property price is currently £245,799. However, if you have tenants in situ, the offer you receive will be significantly lower. Some property experts suggest that it can knock at least 20% off the value of your house and will take considerably longer to find a willing buyer, too.

Another factor that can impact the price you receive is the type of tenancy agreement you have in-place. In the UK, the most common type of tenancy agreement is Assured Shorthold Tenancies (ASTs).

In this agreement, the contract that you and your tenant signed will impact how rent reviews are carried out, and how much they pay. These factors will influence the ‘attractiveness’ of your property to a potential buyer.

If a Joint Tenancy Agreement has been signed, this may complicate matters slightly because your potential buyer may need to communicate with more people during the transaction.

To avoid the toing and froing of negotiating with buyers on the open market, you can simplify your life by going straight to

You can sell your house to us for up-front cash within 7 days.

It doesn’t matter how badly behaved your tenants are, what type of contract you have in place, what length of lease is remaining and much more – we will make a fair, honest valuation on your Sheffield property. can reduce your stress when selling a tenanted property.

Get a free estimate of your home’s current value

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What is Buy to Let?

When a property in Sheffield (or anywhere else in the country) is purchased as a ‘Buy to Let’, it means that the homeowner intends to immediately rent the property out to tenants. This person will not usually be allowed to live there themselves.

The majority of Buy to Let mortgages are ‘interest-only’, meaning that the homeowner is only required to pay back the interest on the loan. 

However, once the term is completed, they must either:

  • Sell the house
  • Pay off the remainder of the mortgage
  • Remortgage altogether

According to online figures, more than 211,000 buy-to-let mortgages were approved by UK lenders in a recent calendar year. Plenty of these were in Sheffield.

How to sell a property with tenants in Sheffield with

It can make your life much easier process to sell your tenanted Sheffield property to a cash buyer.

You will be able to reduce the number of viewings you carry out, and avoid negotiating on price, too. You will be provided with a reasonable offer, and will not be subject to the usual fees associated with the traditional estate agency route, such as legal expenses and commission. is proud to be one of the leading cash buyers in Sheffield.

For a stress-free transaction when you sell a Buy to Let house in Sheffield, contact We operate in every part of the city – from St Paul’s to Crookes, Walkley to Fulwood, and beyond.

Advantages of selling
with tenants in-situ

  • Keep receiving payments up until completion
  • Some buyers will be pleased if they are well-behaved
  • You can offer them first refusal, potentially speeding up the process

Disadvantages of selling
with tenants in-situ

  • They can cause you difficulty
  • It will likely reduce the value of your house
  • Finding a buyer on the open market is challenging

Sheffield’s rental market

Whether you already have a tenanted house in Sheffield, or are considering renting yours out, it is extremely useful to have a full perspective on the rental market in the city.

Currently, the average property in Sheffield brings in £990 per calendar month. 

In a recent 14-day period, there has been 224 properties listed on the market for rent in the city.

The amount you can expect to receive in rent payments varies depending on the size of your house, too. For example, a typical five-bedroom property in Sheffield costs £1,772 per calendar month – but this particular size of house only represents a very small percentage of sales in the city.

The average rental yield in Sheffield is currently 4.2%, considerably higher than the national average of 3.6%.

The rental market in Sheffield is improved considerably by the fact that there are two main universities in the city: the University of Sheffield and Sheffield Hallam University. These two combined bring more than 60,000 students to the city every year – and most of these people need a place to rent.

Reasons you might want to sell a tenanted property in Sheffield

While a tenanted property usually sells for less on the open market, there are some circumstances where the house owner has no other choice.

Firstly, you may sell a tenanted property if you are in immediate need of funds

Perhaps you have debt that must be paid within a few weeks, or you are facing repossession.

In this instance, accessing a lump sum of cash immediately can be vital, and selling your house to a cash buyer can make this happen.

Tenanted properties are sometimes sold if they have been inherited as a probate property, and the new owner does not want the hassle of becoming a landlord – especially if they do not live close to Sheffield.

If two people are going through a divorce, then they may want to ‘cut ties’ on any properties they own jointly together.

Another reason may be because your relationship with your current tenants has deteriorated, but you have no means of evicting them.

Looking after the house may become more problem than it’s worth, and ‘cutting your losses’ could be the best solution.

How much does it cost to sell a tenanted property in Sheffield?

You can sell your tenanted property in Sheffield completely free of charge by using We will buy the house directly from you, while covering all your legal fees, so you don’t pay a penny.

In Sheffield, you should contact several independent estate agencies and conveyancers to find out how much it would cost you on the open market. If a conveyancer charges by the hour, for example, it may cost more when your house is tenanted, as there can sometimes be more paperwork involved.

Contact us today for a free, no-obligation on your Sheffield tenanted house.

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