New guidance for agents selling tenanted properties
Summary
The article notes that the effects of the Renters Rights Act are beginning to influence the sales market, particularly where properties are sold with tenants in situ. It indicates that estate agents need to adapt their approach when handling tenanted property sales as the legislative environment changes.
Why it matters
Residential property surveyors may encounter more tenanted properties being marketed for sale and should be aware of how tenancy-related rights and sale conditions can affect inspections, valuation assumptions and transaction risk. The changing legal backdrop may also influence buyer expectations and the evidence needed to support advice.
Key points
- Renters Rights Act effects are extending into the sales market.
- Tenanted property sales may require different handling from vacant possession sales.
- Agents are being given new guidance in response to the legislative change.
- Surveyors may need to consider tenancy status when advising on value and risk.
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