Landlord: Tracy. I have a portfolio consisting of 10 properties situated in Ashton-Under-Lyne, Bury, Bolton, Radcliffe, Moston and Manchester. I’m in the process of looking to sell my portfolio; should I sell them one by one as each property becomes vacant?
This isn’t something I would advise. Depending on who you are targeting would depend on whether the property would need vacant possession. It can take some time to sell a property, do you really want voids during that period?
You could consider selling to another investor. Your properties could be attractive as a whole portfolio. As we have not managed your properties I could look at your portfolio to see how we can make it attractive to investors. For example, are your rents in line with the current market trends. Have you increased rents over the last few years?
I have a network of investors across the world who are still investing and would welcome the chance to look at any opportunities we can put their way.
Should you wish to bring to the open market and you have a sale agreed you will need to provide your tenant(s) with a Section 21 notice. This will give them two month notice to vacate. Most tenant would almost immediately start to look for alternative accommodation. They may be providing you with notice prior to their notice period expiring.