Buy-to-let properties are a fantastic investment, however when it’s time to sell homeowners must have an in-depth understanding of how to push their assets. If you’re thinking about selling, read on for our in-house advice on how to successfully sell buy-to-lets.
Retain the renter
Before putting the property on the market chat to your tenant about whether or not they’d like to stay. Often, buy-to-let properties are often snapped up by another buy-to-let investor. If this is the case, having a tenant already in place is a big perk.
When it comes to maximising resale value a little TLC can go a long way. Take the time to declutter, give rooms a fresh lick of paint, spruce up the garden and so on. When people start to inspect the property first impressions will shine bright.
Selling a buy-to-let property can be a little more complicated than selling your personal home. Why? Primarily because you need to work around the needs of both buyers and tenants. You’ll have to amp up your organisation skills when it comes to arranging home opens as paying tenants won’t want to be disturbed by multiple viewings a week. Remember, it’s their home too so try to be as considerate as possible.
Maximise profits through clever tax breaks
Tax on buy-to-let properties can be complicated, which is why it pays to enlist the help of the experts when selling. With a professional accountant by your side you can maximise profits and ensure your buy-to-let earns you the best possible ROI.
Before putting your buy-to-let on the market it’s always worth considering whether it could be in your best interests to continue renting. Perhaps it’s just a matter of rearranging finances, upping rent or mortgaging? While this may not always be the case, it’s definitely worth chatting to a financial advisor about whether or not selling is your best option.
Sell in February
Research has shown that there’s a slump in new properties hitting the market over the Christmas period. It’s easy to understand why, with most people caught up in the hectic festive season. Come February, there’s a pent up demand from buyers in search of new additions. This makes the month a great time to sell buy-to-lets.
Check the rental market
If you’re flexible keeping an eye on the rental market is always an effective way to boost resale value. When rental demand is high the chances of interest from other buy-to-let investors is also elevated.