I have a lovely tenant who has lived in my property and paid rent on time and taken very good care of everything. The tenant has now been there for 30 months. I am thinking of selling and thinking of giving the tenant first refusal to buy before I advertise. The tenant is now on a rolling month by month contract do they have rights to get the property at a lower price legally?
No they do not ,but you might need to tempt them
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I bought my first buy to let with a sitting tenant.
I know that’s not what your asking, but just a thought.
Get a market appraisal for the sale of your property with and without a tenant. You will probably find that a lower offer is giving for the property tenanted because only investers would want to purchase such a property.
If you are tempted to offer a lower sale price it shouldn’t be any lower than you could get by selling with the tenant in situ.
Have you actually discussed with the tenant the possibility of buying the property, yes it would remove the advertising costs, but would he interested
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Not discussed with her yet! Good idea about getting 2 valuations with and without tenant. To be honest I don´t want to worry her especially with Covid. I may wait until things are a bit more normal!