UK Landlord Forum / Life

Hello all
I'm new to the forum and my is question; what are the pros and cons of selling a property with tenants that love the property and have been there a number of years? My intention would be to sell it to another landlord preferably.

First point is that you will not find a landlord prepared to pay the asking price. Most people  will want it for their own home, with vacant possession.I know 2 landlords who have tried to do this, ended up having to evict the tenants,then sold very quickly. I take it that your tenants cannot raise the cash to  get a mortgage?                                         

From the purchaser's point of view, it doesn't really add any value, as they've only got your word for it that the tenants are good, and there's nothing to stop them leaving at a month's notice anyway. I reckon most landlords would prefer to start from scratch with their own tenants, so all you're really doing by offering it with tenants in situ is restricting your market to relatively few prospective buyers, which almost inevitably reduces what you'll be able to get for the property. That's not to say you can't do it: it's just that it comes at a cost.