Frantic landlord exodus leaves more tenants in situ d...

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23 August 2023

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By Graham Norwood

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Frantic landlord exodus leaves more tenants in situ during sales

A new analysis shows growth in the trend for buy to let properties to be sold with tenants in situ.

The analysis shows that there are currently 12,518 properties listed for sale while still having tenants in situ.

Some 20 per cent (2,545) of these properties are for sale in the North West, while 17 per cent are listed in the South East.

Yorkshire & Humber accounts for 13 per cent followed by the East of England (12 per cent) and East and West Midlands (both 11 per cent).

A spokesperson for House Buyer Bureau, which commissioned the research, says: “Landlords - especially those who own just one or two properties - are facing mortgage cost increases that they simply cannot keep up with. And while some are trying to combat this by passing the cost onto their tenants, others are simply selling-up.

“Thousands aren’t even waiting until their existing tenants come to the end of their agreement. And while these tenants are legally entitled to stay put until the end of their tenancy agreement, they are effectively being sold as part of the house and their mid-long-term fate is to be decided by whosoever buys the property.”